Colgate-Palmolive (NYSE:CL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Colgate-Palmolive (NYSE:CL) from a hold rating to a buy rating in a report issued on Friday.

A number of other equities analysts have also recently issued reports on CL. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Raymond James reiterated an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, UBS Group reduced their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $102.06.

Colgate-Palmolive Price Performance

Shares of CL opened at $91.75 on Friday. The firm’s 50-day simple moving average is $90.27 and its two-hundred day simple moving average is $93.28. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The stock has a market cap of $74.41 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the firm posted $0.87 earnings per share. Analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its board has approved a stock repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.27%. Colgate-Palmolive’s payout ratio is 59.09%.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exeter Financial LLC boosted its position in shares of Colgate-Palmolive by 2.9% in the first quarter. Exeter Financial LLC now owns 14,248 shares of the company’s stock worth $1,335,000 after purchasing an additional 395 shares during the period. Legacy Private Trust Co. purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth $356,000. Versant Capital Management Inc lifted its stake in shares of Colgate-Palmolive by 222.2% in the 1st quarter. Versant Capital Management Inc now owns 6,060 shares of the company’s stock valued at $568,000 after purchasing an additional 4,179 shares during the last quarter. Boston Common Asset Management LLC lifted its holdings in shares of Colgate-Palmolive by 10.3% in the 1st quarter. Boston Common Asset Management LLC now owns 295,979 shares of the company’s stock worth $27,733,000 after acquiring an additional 27,531 shares during the last quarter. Finally, Kera Capital Partners Inc. raised its holdings in shares of Colgate-Palmolive by 33.1% in the first quarter. Kera Capital Partners Inc. now owns 3,207 shares of the company’s stock worth $300,000 after buying an additional 798 shares during the period. 80.41% of the stock is owned by hedge funds and other 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.