JPMorgan Chase & Co. Issues Positive Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Key Points

• JPMorgan Chase raised its price target on Colgate-Palmolive from $96 to $104 and kept an overweight rating, implying about 10.5% upside from the prior close.
• Other analysts remain broadly positive: Colgate-Palmolive has a Moderate Buy consensus, with 12 Buy ratings and 7 Hold ratings, and an average price target of $97.41.
• The company recently beat earnings expectations, reporting $0.97 EPS on $5.32 billion in revenue, and its shares traded at $94.14 after rising on the day.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $96.00 to $104.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 10.47% from the company's previous close.

Other analysts have also issued research reports about the company. Morgan Stanley reissued an "overweight" rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 8th. Sanford C. Bernstein initiated coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They issued a "market perform" rating and a $96.00 price target for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and an average price target of $97.41.

Colgate-Palmolive Stock Performance

Shares of CL traded up $2.67 on Thursday, reaching $94.14. The company's stock had a trading volume of 1,568,225 shares, compared to its average volume of 6,093,405. The stock's 50 day simple moving average is $90.22 and its two-hundred day simple moving average is $88.41. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The stock has a market capitalization of $75.33 billion, a P/E ratio of 36.62, a PEG ratio of 4.80 and a beta of 0.33. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Research analysts forecast that Colgate-Palmolive will post 3.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors have recently made changes to their positions in CL. Vanguard Group Inc. raised its position in Colgate-Palmolive by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company's stock valued at $6,633,570,000 after purchasing an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC increased its holdings in Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company's stock valued at $1,754,657,000 after buying an additional 304,426 shares during the period. Morgan Stanley increased its holdings in Colgate-Palmolive by 1.7% during the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company's stock valued at $1,520,836,000 after buying an additional 323,367 shares during the period. Bank of New York Mellon Corp raised its stake in Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after buying an additional 7,927,238 shares in the last quarter. Finally, Norges Bank purchased a new stake in Colgate-Palmolive during the fourth quarter worth $861,670,000. 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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