Colgate-Palmolive (NYSE:CL) Price Target Raised to $89.00

Colgate-Palmolive (NYSE:CL) had its price objective boosted by Barclays from $83.00 to $89.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group reduced their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. TD Cowen dropped their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Raymond James reissued an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, Stifel Nicolaus lowered their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $102.06.

Colgate-Palmolive Trading Down 0.5 %

Shares of CL stock opened at $92.73 on Thursday. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The stock’s fifty day moving average price is $89.69 and its two-hundred day moving average price is $93.61. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market cap of $75.25 billion, a PE ratio of 26.34, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period last year, the firm earned $0.87 EPS. Equities analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a $0.52 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s payout ratio is 59.09%.

Hedge Funds Weigh In On Colgate-Palmolive

A number of large investors have recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive in the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive during the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive during the 4th quarter worth $32,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth $32,000. 80.41% of the stock is currently owned by institutional investors.

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.