Colgate-Palmolive’s (CL) “Outperform” Rating Reiterated at BNP Paribas Exane

BNP Paribas Exane reissued their outperform rating on shares of Colgate-Palmolive (NYSE:CL) in a report released on Monday morning,Benzinga reports. BNP Paribas Exane currently has a $108.00 target price on the stock, up from their prior target price of $97.00.

CL has been the subject of a number of other reports. Evercore lifted their price objective on Colgate-Palmolive from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, October 8th. Citigroup increased their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. UBS Group raised their target price on Colgate-Palmolive from $106.00 to $112.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler decreased their target price on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, September 21st. Finally, Morgan Stanley upped their price target on Colgate-Palmolive from $104.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $101.22.

Colgate-Palmolive Price Performance

CL opened at $98.65 on Monday. The company has a fifty day moving average price of $89.88 and a two-hundred day moving average price of $89.85. The company has a debt-to-equity ratio of 11.23, a quick ratio of 0.30 and a current ratio of 0.96. Colgate-Palmolive has a 52 week low of $75.96 and a 52 week high of $99.69. The firm has a market capitalization of $78.42 billion, a PE ratio of 24.64, a P/E/G ratio of 4.34 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, analysts anticipate that Colgate-Palmolive will post 3.91 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is 83.14%.

Insider Buying and Selling at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cooper Financial Group lifted its holdings in shares of Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after purchasing an additional 114 shares in the last quarter. Gould Capital LLC boosted its position in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after buying an additional 115 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in shares of Colgate-Palmolive by 2.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock worth $397,000 after buying an additional 118 shares during the period. SVB Wealth LLC grew its holdings in shares of Colgate-Palmolive by 1.4% during the second quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock worth $804,000 after buying an additional 119 shares in the last quarter. Finally, Sowell Financial Services LLC grew its holdings in shares of Colgate-Palmolive by 2.1% during the third quarter. Sowell Financial Services LLC now owns 5,737 shares of the company’s stock worth $490,000 after buying an additional 119 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Key Colgate-Palmolive News

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: Investors have favored Colgate-Palmolive and other Dividend Kings amid political uncertainty, seeking dependable earnings and dividends. The company’s recent quarterly results also showed resilience: earnings and revenue exceeded consensus estimates, and revenue grew year over year. Article: Dividend Kings hitting 52-week highs
• Positive Sentiment: Several firms delivered supportive signals, including price-target increases from Wells Fargo and RBC, a bullish appreciation outlook from Morgan Stanley, and an Outperform reaffirmation from BNP Paribas Exane. Article: Wells Fargo raises price target Article: Morgan Stanley outlook Article: BNP Paribas Exane reaffirms Outperform Article: RBC raises price target
• Positive Sentiment: Commentary also highlights Colgate-Palmolive’s pricing power to help protect earnings and dividends from inflation, as well as improving execution and a potentially attractive valuation. Article: Dividend stocks with pricing power Article: Improving execution and valuation
• Neutral Sentiment: Barclays raised its target but maintained an Equal Weight/Hold stance, indicating limited conviction that the shares will outperform from current levels. Article: Barclays remains a Hold
• Negative Sentiment: JPMorgan lowered its expectations for CL’s share price, a counterpoint to the recent target increases. Article: JPMorgan lowers price expectations

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.