Colgate-Palmolive (CL) Given New $80.00 Price Target at Morgan Stanley

Colgate-Palmolive (NYSE:CL) had its price objective cut by Morgan Stanley from $82.00 to $80.00 in a report released on Friday morning. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Colgate-Palmolive from a hold rating to a buy rating and set a $84.00 price objective on the stock in a research report on Monday, January 8th. Stifel Nicolaus reiterated a hold rating and set a $75.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday. Barclays set a $75.00 price objective on shares of Colgate-Palmolive and gave the company a hold rating in a research report on Thursday, March 15th. Jefferies Group reiterated a hold rating and set a $79.00 price objective on shares of Colgate-Palmolive in a research report on Friday, January 26th. Finally, Citigroup boosted their price objective on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $77.69.

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CL stock traded down $2.25 during mid-day trading on Friday, reaching $67.52. 8,636,288 shares of the stock traded hands, compared to its average volume of 3,522,232. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 27.02. Colgate-Palmolive has a one year low of $67.43 and a one year high of $77.91. The stock has a market capitalization of $61,071.54, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 26th. The company reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. Colgate-Palmolive had a net margin of 13.10% and a return on equity of 1,716.69%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. equities research analysts expect that Colgate-Palmolive will post 3.18 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be paid a dividend of $0.42 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, April 19th. Colgate-Palmolive’s payout ratio is currently 58.54%.

In other news, Director Ellen M. Hancock sold 4,676 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $74.12, for a total transaction of $346,585.12. Following the completion of the sale, the director now directly owns 208,063 shares of the company’s stock, valued at $15,421,629.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Patricia Verduin sold 1,572 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.17, for a total transaction of $110,307.24. Following the sale, the chief technology officer now directly owns 50,675 shares of the company’s stock, valued at $3,555,864.75. The disclosure for this sale can be found here. Insiders have sold 474,305 shares of company stock valued at $33,776,113 over the last three months. Insiders own 1.02% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Delta Asset Management LLC TN lifted its stake in Colgate-Palmolive by 10.7% in the fourth quarter. Delta Asset Management LLC TN now owns 7,516 shares of the company’s stock worth $568,000 after acquiring an additional 725 shares during the period. Cornerstone Financial Partners LLC lifted its stake in Colgate-Palmolive by 19.0% in the fourth quarter. Cornerstone Financial Partners LLC now owns 4,561 shares of the company’s stock worth $344,000 after acquiring an additional 728 shares during the period. Boston Research & Management Inc. lifted its stake in Colgate-Palmolive by 1.6% in the third quarter. Boston Research & Management Inc. now owns 47,628 shares of the company’s stock worth $3,469,000 after acquiring an additional 738 shares during the period. Global X MANAGEMENT CO LLC lifted its stake in Colgate-Palmolive by 8.2% in the third quarter. Global X MANAGEMENT CO LLC now owns 9,836 shares of the company’s stock worth $717,000 after acquiring an additional 743 shares during the period. Finally, Elkhorn Investments LLC lifted its stake in Colgate-Palmolive by 4.5% in the fourth quarter. Elkhorn Investments LLC now owns 17,429 shares of the company’s stock worth $1,246,000 after acquiring an additional 743 shares during the period. 73.64% of the stock is owned by institutional investors.

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About Colgate-Palmolive

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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