Colgate-Palmolive (NYSE:CL) Trading 5.1% Higher – Time to Buy?

Colgate-Palmolive Company (NYSE:CL) rose 5.1% during mid-day trading on Friday . The stock traded as high as $89.23 and last traded at $89.4530. Approximately 2,927,016 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 6,327,654 shares. The stock had previously closed at $85.10.

Wall Street Analyst Weigh In

CL has been the topic of several research reports. Bank of America lowered their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Stock Performance

The company has a market cap of $70.91 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 4.41 and a beta of 0.33. The company’s 50-day moving average is $86.42 and its two-hundred day moving average is $85.91. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.4%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s payout ratio is currently 82.49%.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors have recently made changes to their positions in CL. Kemnay Advisory Services Inc. bought a new position in Colgate-Palmolive in the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares during the period. TD Capital Management LLC increased its position in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the period. Triumph Capital Management lifted its holdings in shares of Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.