Colgate-Palmolive (NYSE:CL) Price Target Raised to $100.00 at Bank of America

Colgate-Palmolive (NYSE:CL) had its price target lifted by Bank of America from $90.00 to $100.00 in a report released on Monday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. TheStreet raised shares of Colgate-Palmolive from a c+ rating to a b+ rating in a report on Friday, January 26th. Evercore ISI lifted their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an outperform rating in a report on Monday, April 8th. Barclays lifted their target price on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the company an equal weight rating in a report on Friday, April 12th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Finally, UBS Group boosted their price objective on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a buy rating in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of Moderate Buy and an average price target of $91.38.

Colgate-Palmolive Trading Down 0.6 %

Shares of Colgate-Palmolive stock opened at $90.49 on Monday. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $92.25. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.28 and a current ratio of 0.42. The company has a market capitalization of $74.38 billion, a P/E ratio of 28.64, a PEG ratio of 3.42 and a beta of 0.42. The company’s fifty day moving average is $87.80 and its two-hundred day moving average is $81.77.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the firm posted $0.73 EPS. Colgate-Palmolive’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts forecast that Colgate-Palmolive will post 3.5 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.21%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total transaction of $5,891,020.56. Following the completion of the sale, the chief executive officer now directly owns 286,881 shares of the company’s stock, valued at approximately $24,161,117.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total transaction of $5,891,020.56. Following the completion of the transaction, the chief executive officer now directly owns 286,881 shares of the company’s stock, valued at approximately $24,161,117.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Martin Harris sold 2,760 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total transaction of $233,220.00. Following the transaction, the director now directly owns 19,272 shares of the company’s stock, valued at $1,628,484. The disclosure for this sale can be found here. Insiders sold 232,371 shares of company stock valued at $19,505,099 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vest Financial LLC lifted its position in shares of Colgate-Palmolive by 25.1% in the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock worth $29,498,000 after buying an additional 74,337 shares during the last quarter. Central Bank & Trust Co. lifted its position in shares of Colgate-Palmolive by 22.1% in the 4th quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock worth $110,000 after buying an additional 250 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Colgate-Palmolive by 9.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after buying an additional 910 shares during the last quarter. Sarasin & Partners LLP lifted its position in shares of Colgate-Palmolive by 1.2% in the 4th quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock worth $323,115,000 after buying an additional 49,980 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 2.5% in the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock worth $571,000 after buying an additional 172 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

About Colgate-Palmolive

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.