Royal Bank Of Canada Reiterates Outperform Rating for Colgate-Palmolive (NYSE:CL)

Colgate-Palmolive (NYSE:CL)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a note issued to investors on Tuesday, Benzinga reports. They currently have a $104.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 17.60% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Barclays increased their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Finally, UBS Group boosted their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.34 during midday trading on Tuesday, reaching $88.43. The company’s stock had a trading volume of 725,848 shares, compared to its average volume of 5,718,608. Colgate-Palmolive has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The business has a 50-day moving average price of $91.81 and a 200-day moving average price of $89.77. The stock has a market cap of $70.50 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 4.14 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 3.87 EPS for the current year.

Insider Transactions at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 175,191 shares of company stock worth $16,110,903 over the last ninety days. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC boosted its position in 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 acquiring an additional 150 shares during the last quarter. TD Capital Management LLC boosted its position in 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 acquiring an additional 124 shares during the last quarter. Triumph Capital Management grew its holdings in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new position in shares of Colgate-Palmolive in the 4th quarter worth about $26,000. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

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.