Colgate-Palmolive (NYSE:CL) Coverage Initiated at TD Cowen

TD Cowen started coverage on shares of Colgate-Palmolive (NYSE:CL) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued a buy rating and a $110.00 price objective on the stock.

Several other brokerages have also recently commented on CL. Deutsche Bank Aktiengesellschaft raised their target price on shares of Colgate-Palmolive from $98.00 to $104.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Argus lifted their price objective on shares of Colgate-Palmolive from $97.00 to $107.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Bank of America lifted their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Morgan Stanley lifted 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, Barclays lifted their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company an equal weight rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $98.58.

Colgate-Palmolive Trading Up 3.0 %

Shares of CL stock opened at $99.40 on Tuesday. The firm has a 50 day moving average price of $95.83 and a two-hundred day moving average price of $90.06. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The company has a market capitalization of $81.55 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 3.49 and a beta of 0.39. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $100.61.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a $0.50 dividend. The ex-dividend date is Friday, July 19th. This represents a $2.00 annualized dividend and a yield of 2.01%. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Activity at Colgate-Palmolive

In other news, insider Sally Massey sold 12,226 shares of the company’s 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 transaction, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were 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 available through the SEC website. Also, insider Sally Massey sold 12,226 shares of the company’s 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 transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Colgate-Palmolive in the 4th quarter worth about $731,843,000. Price T Rowe Associates Inc. MD grew its position in Colgate-Palmolive by 27.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares in the last quarter. Swedbank AB bought a new stake in Colgate-Palmolive in the 1st quarter worth about $286,370,000. Magellan Asset Management Ltd grew its position in Colgate-Palmolive by 4,162.6% in the 4th quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock worth $160,718,000 after purchasing an additional 1,968,988 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new stake in Colgate-Palmolive in the 1st quarter worth about $130,622,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Company Profile

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.