Brokerages Set Colgate-Palmolive Company (NYSE:CL) Target Price at $94.75

Colgate-Palmolive Company (NYSE:CL) has received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $94.75.

A number of research firms have recently weighed in on CL. Barclays increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Jefferies Financial Group increased their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $100.00 price target on shares of Colgate-Palmolive in a report on Friday, February 20th. Finally, Citigroup boosted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, February 2nd.

Colgate-Palmolive Trading Up 1.0%

NYSE CL opened at $88.85 on Friday. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The stock has a 50-day moving average of $90.11 and a 200-day moving average of $83.22. The firm has a market cap of $71.62 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.98 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.Colgate-Palmolive’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is 79.39%.

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the sale, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $985,363.15. This trade represents a 77.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the transaction, the chief financial officer owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Colgate-Palmolive

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $861,670,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after buying an additional 4,598,789 shares during the period. Schroder Investment Management Group raised its stake in Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after buying an additional 3,768,784 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Colgate-Palmolive in the fourth quarter worth about $236,682,000. Finally, Deutsche Bank AG lifted its holdings in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares during the period. Institutional investors own 80.41% of the company’s stock.

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.