Analysts Set Colgate-Palmolive (CL) Target Price at $71.57

Colgate-Palmolive (NYSE:CL) has been assigned an average rating of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $71.53.

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, July 23rd. ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Barclays set a $64.00 price objective on shares of Colgate-Palmolive and gave the stock a “hold” rating in a report on Monday, July 30th. Finally, Wells Fargo & Co reissued a “hold” rating and issued a $64.00 price objective on shares of Colgate-Palmolive in a report on Friday, July 27th.

In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 1,015 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $68,055.75. Following the transaction, the chief financial officer now owns 36,193 shares of the company’s stock, valued at $2,426,740.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel B. Marsili sold 19,500 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $65.40, for a total transaction of $1,275,300.00. Following the transaction, the insider now directly owns 78,065 shares in the company, valued at approximately $5,105,451. The disclosure for this sale can be found here. Insiders have sold 415,279 shares of company stock worth $27,384,156 in the last ninety days. Insiders own 1.02% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. purchased a new position in shares of Colgate-Palmolive in the second quarter worth $33,413,000. WealthTrust Fairport LLC lifted its holdings in shares of Colgate-Palmolive by 1,036.8% in the second quarter. WealthTrust Fairport LLC now owns 8,526 shares of the company’s stock worth $553,000 after buying an additional 7,776 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Colgate-Palmolive by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 20,135,385 shares of the company’s stock worth $1,304,974,000 after buying an additional 1,596,825 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Colgate-Palmolive by 27.2% in the second quarter. Schroder Investment Management Group now owns 2,433,426 shares of the company’s stock worth $158,003,000 after buying an additional 520,318 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new stake in Colgate-Palmolive in the second quarter worth $247,000. 74.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CL stock traded down $0.95 during trading hours on Wednesday, reaching $68.14. The company had a trading volume of 112,216 shares, compared to its average volume of 2,886,175. Colgate-Palmolive has a one year low of $61.28 and a one year high of $77.91. The firm has a market capitalization of $59.95 billion, a PE ratio of 23.93, a P/E/G ratio of 3.09 and a beta of 0.73. The company has a quick ratio of 0.74, a current ratio of 1.06 and a debt-to-equity ratio of -34.49.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 27th. The company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. analysts anticipate that Colgate-Palmolive will post 3.02 earnings per share for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a stock repurchase plan on Monday, June 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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