Colgate-Palmolive (NYSE:CL) Receives $102.12 Consensus PT from Analysts

Colgate-Palmolive (NYSE:CL) has been given a consensus rating of “Hold” by the twenty research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $102.12.

A number of equities research analysts have issued reports on the company. Piper Sandler cut their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Citigroup boosted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Stifel Nicolaus reduced their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Finally, UBS Group boosted their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $91.67 on Friday. 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 firm’s 50-day moving average price is $91.74 and its 200-day moving average price is $91.27. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a market cap of $74.29 billion, a PE ratio of 26.04, a PEG ratio of 4.20 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 25th. The company reported $0.91 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 during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. As a group, analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.27%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

Colgate-Palmolive announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Colgate-Palmolive in the 4th quarter worth $912,375,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $348,718,000. AMF Tjanstepension AB boosted its stake in Colgate-Palmolive by 1,088.8% during the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock valued at $233,584,000 after buying an additional 2,353,268 shares during the last quarter. Finally, Nuveen LLC bought a new position in Colgate-Palmolive during the first quarter valued at approximately $217,593,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

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.