Evercore ISI Raises Colgate-Palmolive (NYSE:CL) Price Target to $106.00

Colgate-Palmolive (NYSE:CL) had its price objective increased by Evercore ISI from $100.00 to $106.00 in a research note published on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

CL has been the subject of several other reports. Citigroup upped their target price on Colgate-Palmolive from $103.00 to $112.00 and gave the stock a buy rating in a report on Wednesday, July 10th. BNP Paribas initiated coverage on shares of Colgate-Palmolive in a research report on Monday, June 24th. They set an outperform rating and a $109.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $92.00 to $97.00 and gave the stock an equal weight rating in a research report on Wednesday, July 10th. Morgan Stanley increased their price objective on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a buy rating in a research note on Monday, April 29th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of Moderate Buy and an average price target of $96.94.

Colgate-Palmolive Price Performance

CL opened at $98.08 on Thursday. The business has a fifty day moving average of $95.53 and a 200 day moving average of $89.60. The stock has a market cap of $80.47 billion, a P/E ratio of 31.04, a PEG ratio of 3.54 and a beta of 0.39. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $99.63.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 EPS. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.54 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insiders Place Their Bets

In other news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now owns 3,181 shares in the company, valued at $297,328.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of institutional investors have recently added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC raised its position in shares of Colgate-Palmolive by 9.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after purchasing an additional 910 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Colgate-Palmolive by 9.9% in the fourth quarter. Raymond James Trust N.A. now owns 28,482 shares of the company’s stock valued at $2,270,000 after acquiring an additional 2,565 shares in the last quarter. Baker Tilly Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $554,000. BKM Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth approximately $560,000. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $940,000. Institutional investors and hedge funds 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.