TD Cowen Begins Coverage on Colgate-Palmolive (NYSE:CL)

TD Cowen assumed coverage on shares of Colgate-Palmolive (NYSE:CL) in a report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $110.00 target price on the stock.

Several other analysts have also recently commented on the company. Citigroup increased 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. Bank of America increased their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Evercore ISI raised their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the company an outperform rating in a report on Thursday, July 18th. BNP Paribas began coverage on Colgate-Palmolive in a report on Monday, June 24th. They issued an outperform rating and a $109.00 price target on the stock. Finally, Morgan Stanley raised their price target on Colgate-Palmolive from $101.00 to $103.00 and gave the company an overweight rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $98.58.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $96.49 on Tuesday. The stock has a fifty day moving average price of $95.72 and a two-hundred day moving average price of $89.93. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market capitalization of $79.16 billion, a P/E ratio of 30.53, a P/E/G ratio of 3.49 and a beta of 0.39. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $99.63.

Colgate-Palmolive (NYSE:CL) last announced its 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 analysts’ expectations of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. As a group, analysts anticipate that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total value of $326,864.59. Following the sale, the insider now directly owns 3,181 shares in the company, valued at approximately $297,328.07. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $25,000. Union Savings Bank raised its position in Colgate-Palmolive by 76.6% in the 4th quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. PSI Advisors LLC grew its stake in Colgate-Palmolive by 4,971.4% in the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after purchasing an additional 348 shares in the last quarter. Continuum Advisory LLC grew its stake in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Finally, Avion Wealth grew its stake in Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares in the last quarter. 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.