Colgate-Palmolive (NYSE:CL) Price Target Raised to $110.00

Colgate-Palmolive (NYSE:CL) had its target price hoisted by research analysts at Bank of America from $100.00 to $110.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 13.27% from the company’s previous close.

A number of other research firms also recently issued reports on CL. Citigroup lifted their price target on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus lifted their price objective on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Morgan Stanley lifted their price objective on Colgate-Palmolive from $101.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Barclays lifted their price objective on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada lifted their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.67.

Colgate-Palmolive Stock Performance

CL traded up $0.07 during trading on Wednesday, reaching $97.11. The company’s stock had a trading volume of 990,619 shares, compared to its average volume of 4,423,213. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $99.08. The company’s fifty day moving average price is $94.81 and its 200-day moving average price is $88.56. The company has a market capitalization of $79.67 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 3.59 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sally Massey sold 12,226 shares of the stock in a transaction dated 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 sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Sally Massey sold 12,226 shares of the stock in a transaction dated 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 sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Gulf International Bank UK Ltd boosted its holdings in shares of Colgate-Palmolive by 0.4% in the second quarter. Gulf International Bank UK Ltd now owns 87,365 shares of the company’s stock valued at $8,477,000 after acquiring an additional 357 shares in the last quarter. CWM LLC lifted its stake in Colgate-Palmolive by 18.0% during the second quarter. CWM LLC now owns 27,355 shares of the company’s stock valued at $2,655,000 after purchasing an additional 4,177 shares during the last quarter. Somerset Trust Co lifted its stake in Colgate-Palmolive by 0.6% during the second quarter. Somerset Trust Co now owns 24,053 shares of the company’s stock valued at $2,334,000 after purchasing an additional 140 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Colgate-Palmolive by 5.0% during the second quarter. Park Avenue Securities LLC now owns 7,739 shares of the company’s stock valued at $751,000 after purchasing an additional 371 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in Colgate-Palmolive by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 14,081 shares of the company’s stock valued at $1,366,000 after purchasing an additional 496 shares during the last quarter. 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.