Colgate-Palmolive (NYSE:CL) Stock Price Expected to Rise, Barclays Analyst Says

Colgate-Palmolive (NYSE:CL) had its target price upped by investment analysts at Barclays from $83.00 to $89.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 3.69% from the stock’s current price.

Several other research analysts also recently weighed in on CL. Stifel Nicolaus dropped their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Piper Sandler dropped their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Raymond James reissued an “outperform” rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, TD Cowen lowered their price objective 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $102.06.

Colgate-Palmolive Stock Up 0.4 %

Shares of CL stock opened at $92.41 on Thursday. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The company’s fifty day moving average price is $89.52 and its 200-day moving average price is $93.81. The company has a market capitalization of $75.00 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS 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 in the previous year, the firm earned $0.87 EPS. Sell-side analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Colgate-Palmolive

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $912,375,000. Diamond Hill Capital Management Inc. bought a new position in Colgate-Palmolive in the fourth quarter worth about $348,718,000. FMR LLC boosted its holdings in shares of Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares in the last quarter. AMF Tjanstepension AB grew its position in shares of Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock worth $233,584,000 after buying an additional 2,353,268 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after acquiring an additional 2,132,747 shares in the last quarter. 80.41% of the stock is currently owned by 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.