Colgate-Palmolive (NYSE:CL) Price Target Raised to $104.00

Key Points

• JPMorgan raised Colgate-Palmolive’s price target to $104 from $103 and maintained an “overweight” rating, implying 11.35% upside from the prior close.
• Analyst sentiment remains favorable, with 13 Buy and seven Hold ratings producing a “Moderate Buy” consensus and an average target price of $98.
• Colgate-Palmolive recently exceeded quarterly earnings expectations, reporting $0.99 in EPS versus a $0.95 estimate, while insiders sold approximately $16.1 million of stock during the latest quarter.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target lifted by JPMorgan Chase & Co. from $103.00 to $104.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 11.35% from the company's previous close.

CL has been the subject of several other reports. Bank of America dropped their target price on shares of Colgate-Palmolive from $102.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, October 9th. Raymond James Financial raised their price target on Colgate-Palmolive from $100.00 to $102.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, September 8th. Citigroup upped their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, Evercore boosted their price objective on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Colgate-Palmolive Stock Performance

Shares of CL stock traded down $0.71 during trading on Monday, reaching $93.40. 2,381,419 shares of the company's stock traded hands, compared to its average volume of 5,667,837. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a market capitalization of $74.46 billion, a P/E ratio of 37.07, a PEG ratio of 4.55 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The firm's 50-day moving average is $89.05 and its 200 day moving average is $89.05.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Equities research analysts expect that Colgate-Palmolive will post 3.87 EPS for the current year.

Insider Transactions at Colgate-Palmolive

In related news, Director John Cahill sold 4,170 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director directly owned 28,373 shares of the company's stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 175,191 shares of company stock valued at $16,110,903 in the last quarter. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several large investors have recently made changes to their positions in the company. Corient Private Wealth LP increased its stake in Colgate-Palmolive by 29.0% during the 2nd quarter. Corient Private Wealth LP now owns 639,604 shares of the company's stock worth $58,639,000 after buying an additional 143,812 shares during the period. Bank of America Corp DE acquired a new stake in shares of Colgate-Palmolive during the second quarter worth approximately $567,483,000. Brandywine Financial Group boosted its stake in Colgate-Palmolive by 35,612.3% during the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company's stock valued at $6,209,000 after acquiring an additional 72,649 shares during the last quarter. SEB Asset Management AB acquired a new position in Colgate-Palmolive during the 1st quarter worth $91,149,000. Finally, Robinhood Asset Management LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $11,554,000. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company NYSE: CL is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill's Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill's Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.

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