Colgate-Palmolive (NYSE:CL) Rating Increased to Buy at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn upgraded Colgate-Palmolive from "hold" to "buy" and raised its price target to $100 (from $93), implying about a 22.04% upside.
• Analyst sentiment is mixed-but-positive overall: twelve analysts rate CL a Buy and six a Hold, giving a consensus rating of "Moderate Buy" with an average price target of $95.88.
• Significant insider selling occurred recently—184,683 shares worth roughly $17.49 million were sold over three months—while institutional ownership is high at 80.41%, with large new stakes reported from Norges Bank and other funds.

Colgate-Palmolive (NYSE:CL - Get Free Report) was upgraded by equities research analysts at Rothschild & Co Redburn from a "hold" rating to a "buy" rating in a report released on Tuesday, Marketbeat reports. The firm currently has a $100.00 target price on the stock, up from their previous target price of $93.00. Rothschild & Co Redburn's price objective indicates a potential upside of 22.04% from the company's previous close.

A number of other equities analysts have also recently commented on CL. Bank of America decreased their price target on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. UBS Group decreased their price target on Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. Finally, Morgan Stanley lifted their price target on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $95.88.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $81.94 on Tuesday. The business has a 50 day moving average of $89.53 and a 200 day moving average of $83.83. The company has a market capitalization of $65.74 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 4.17 and a beta of 0.34. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion for the quarter, compared to analysts' expectations of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts predict that Colgate-Palmolive will post 3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sally Massey sold 15,851 shares of the business's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the transaction, the insider directly owned 13,751 shares of the company's stock, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total value of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $985,363.15. This trade represents a 77.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 over the last three months. 0.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Colgate-Palmolive

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter worth $861,670,000. Northwestern Mutual Wealth Management Co. grew its stake in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock worth $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Colgate-Palmolive in the fourth quarter worth $236,682,000. Deutsche Bank AG grew its stake in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Colgate-Palmolive by 3,052.2% in the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company's stock worth $215,602,000 after purchasing an additional 2,611,485 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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