Colgate-Palmolive Company (NYSE:CL) Stock Has Average Price Target of $98.94 According to Analysts

Colgate-Palmolive Company (NYSE:CL) has been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $98.94.

Several equities analysts recently commented on CL shares. Piper Sandler dropped their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. Weiss Ratings lowered Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Barclays lifted their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. UBS Group upped their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, September 8th.

Insider Buying and Selling at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last quarter. 0.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Colgate-Palmolive

A number of large investors have recently modified their holdings of the company. TD Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the period. Parvin Asset Management LLC purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $32,000. Park Place Capital Corp raised its holdings in Colgate-Palmolive by 55.5% in the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after buying an additional 127 shares during the period. Cherry Tree Wealth Management LLC lifted its position in Colgate-Palmolive by 7,840.0% during the second quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 392 shares in the last quarter. Finally, Montgomery Financial Services LLC purchased a new stake in Colgate-Palmolive during the second quarter worth approximately $36,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE CL opened at $84.22 on Tuesday. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The firm’s 50 day moving average price is $89.59 and its 200 day moving average price is $88.78. The firm has a market cap of $67.13 billion, a P/E ratio of 33.42, a price-to-earnings-growth ratio of 3.93 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm posted $0.92 EPS. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.