Colgate-Palmolive's (CL) "Outperform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed an "Outperform" on Colgate-Palmolive with a $102 price target, implying roughly a 19% upside from current levels.
• Colgate beat Q1 estimates with EPS $0.97 vs. $0.94 and revenue of $5.32B (up 8.4% year-over-year), though the stock trades near $85.62, below many analysts' targets.
• The analyst picture is mixed—Citigroup raised its target to $105 while others trimmed theirs; MarketBeat shows a consensus "Moderate Buy" with an average target of $95.63, and insiders sold about $17.5M of stock in the last 90 days.

Colgate-Palmolive (NYSE:CL - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Royal Bank Of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $102.00 target price on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 19.13% from the stock's current price.

Several other research firms have also commented on CL. Citigroup increased their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Sunday, March 29th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $97.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. Piper Sandler cut their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Finally, TD Cowen reissued a "hold" rating and set a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.63.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded down $1.64 during trading on Monday, reaching $85.62. The company had a trading volume of 1,179,638 shares, compared to its average volume of 6,614,159. The firm's fifty day moving average is $87.95 and its 200 day moving average is $84.15. The firm has a market capitalization of $68.69 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 4.46 and a beta of 0.31. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.29 and a current ratio of 0.44.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the business posted $0.91 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive will post 3.85 EPS for the current year.

Insider Activity

In related news, insider John Hazlin sold 20,989 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares of the company's stock, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sally Massey sold 15,851 shares of the firm'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 completion of the transaction, the insider directly owned 13,751 shares of the company's stock, valued at $1,306,757.53. This represents a 53.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 184,683 shares of company stock worth $17,486,693. Company insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GHE LLC lifted its position in Colgate-Palmolive by 18.9% in the 1st quarter. GHE LLC now owns 23,481 shares of the company's stock worth $2,001,000 after buying an additional 3,725 shares in the last quarter. Tradewinds LLC. raised its holdings in shares of Colgate-Palmolive by 7.4% during the 1st quarter. Tradewinds LLC. now owns 3,049 shares of the company's stock valued at $266,000 after purchasing an additional 211 shares in the last quarter. Paradiem LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at $13,206,000. Procyon Advisors LLC raised its holdings in shares of Colgate-Palmolive by 27.9% during the 1st quarter. Procyon Advisors LLC now owns 51,721 shares of the company's stock valued at $4,408,000 after purchasing an additional 11,277 shares in the last quarter. Finally, LGT Fund Management Co Ltd. raised its holdings in shares of Colgate-Palmolive by 216.0% during the 1st quarter. LGT Fund Management Co Ltd. now owns 9,700 shares of the company's stock valued at $827,000 after purchasing an additional 6,630 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Company Profile

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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