JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Colgate-Palmolive (NYSE:CL) Stock

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target increased by investment analysts at JPMorgan Chase & Co. from $95.00 to $103.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 13.57% from the stock's previous close.

Several other research firms have also weighed in on CL. Morgan Stanley dropped their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. UBS Group raised their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Finally, Stifel Nicolaus dropped their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.39.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded down $1.50 during trading on Monday, reaching $90.69. The stock had a trading volume of 4,115,565 shares, compared to its average volume of 4,663,873. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The firm has a market capitalization of $73.50 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The stock has a fifty day simple moving average of $92.28 and a two-hundred day simple moving average of $92.06.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Colgate-Palmolive's revenue was down 3.0% compared to the same quarter last year. As a group, analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently modified their holdings of the business. Westend Capital Management LLC boosted its holdings in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $31,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.