Colgate-Palmolive (NYSE:CL) Shares Up 5.1% – Time to Buy?

Colgate-Palmolive Company (NYSE:CL) was up 5.1% during trading on Friday . The stock traded as high as $89.23 and last traded at $89.4530. Approximately 2,927,016 shares traded hands during trading, a decline of 54% from the average daily volume of 6,327,654 shares. The stock had previously closed at $85.10.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CL shares. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Up 4.1%

The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $70.91 billion, a P/E ratio of 34.48, a P/E/G ratio of 4.60 and a beta of 0.33. The business has a 50-day moving average price of $86.49 and a 200 day moving average price of $85.93.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. On average, equities analysts expect that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were given a $0.53 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Institutional Trading of Colgate-Palmolive

A number of institutional investors have recently bought and sold shares of the stock. HighPoint Advisor Group LLC lifted its position in Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after buying an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC lifted its position in shares of Colgate-Palmolive by 2.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after purchasing an additional 113 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after purchasing an additional 114 shares during the last quarter. Gould Capital LLC lifted its position in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Finally, Sunpointe LLC lifted its position in shares of Colgate-Palmolive by 4.0% during the fourth quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock worth $241,000 after purchasing an additional 117 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

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.