Morgan Stanley upgraded shares of Colgate-Palmolive (NYSE:CL – Get Rating) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has $82.00 price objective on the stock.
A number of other equities analysts have also weighed in on the company. Credit Suisse Group lowered their target price on Colgate-Palmolive from $88.00 to $85.00 and set an outperform rating on the stock in a research report on Tuesday, October 18th. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $81.00 to $86.00 and gave the stock an overweight rating in a report on Friday, January 13th. Deutsche Bank Aktiengesellschaft raised their price target on Colgate-Palmolive from $85.00 to $87.00 and gave the company a buy rating in a report on Tuesday, December 6th. Wolfe Research started coverage on Colgate-Palmolive in a report on Monday, November 21st. They issued a market perform rating on the stock. Finally, Barclays raised their price target on Colgate-Palmolive from $72.00 to $76.00 and gave the company an equal weight rating in a report on Tuesday, November 1st. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $81.90.
Get Colgate-Palmolive alerts:Colgate-Palmolive Price Performance
NYSE:CL opened at $73.73 on Monday. Colgate-Palmolive has a 1-year low of $67.84 and a 1-year high of $83.81. The company has a current ratio of 0.40, a quick ratio of 0.24 and a debt-to-equity ratio of 7.81. The firm has a fifty day simple moving average of $77.48 and a 200 day simple moving average of $76.55. The stock has a market capitalization of $61.58 billion, a PE ratio of 34.77, a P/E/G ratio of 3.87 and a beta of 0.50.
Colgate-Palmolive (NYSE:CL – Get Rating) last posted its earnings results on Friday, January 27th. The company reported $0.77 earnings per share for the quarter, hitting analysts' consensus estimates of $0.77. Colgate-Palmolive had a return on equity of 317.08% and a net margin of 9.93%. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The company's revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that Colgate-Palmolive will post 3.1 EPS for the current fiscal year.Colgate-Palmolive Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 23rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Friday, January 20th. Colgate-Palmolive's dividend payout ratio is currently 88.26%.
Institutional Trading of Colgate-Palmolive
Several large investors have recently modified their holdings of the company. Navellier & Associates Inc. grew its holdings in Colgate-Palmolive by 8.9% during the fourth quarter. Navellier & Associates Inc. now owns 38,599 shares of the company's stock valued at $3,041,000 after purchasing an additional 3,148 shares during the period. ARGI Investment Services LLC grew its holdings in Colgate-Palmolive by 55.4% during the fourth quarter. ARGI Investment Services LLC now owns 4,915 shares of the company's stock valued at $387,000 after purchasing an additional 1,753 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in Colgate-Palmolive by 0.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 114,308 shares of the company's stock valued at $9,006,000 after purchasing an additional 963 shares during the period. Congress Wealth Management LLC DE grew its holdings in Colgate-Palmolive by 1.7% during the fourth quarter. Congress Wealth Management LLC DE now owns 135,505 shares of the company's stock valued at $10,677,000 after purchasing an additional 2,255 shares during the period. Finally, Forsta AP Fonden grew its holdings in Colgate-Palmolive by 49.8% during the fourth quarter. Forsta AP Fonden now owns 283,500 shares of the company's stock valued at $22,337,000 after purchasing an additional 94,200 shares during the period. Institutional investors own 77.63% of the company's stock.
About Colgate-Palmolive
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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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