Wells Fargo & Company Increases Colgate-Palmolive (NYSE:CL) Price Target to $88.00

Colgate-Palmolive (NYSE:CLGet Free Report) had its price objective upped by investment analysts at Wells Fargo & Company from $80.00 to $88.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 4.48% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Stifel Nicolaus raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and decreased their price target for the stock from $85.00 to $81.00 in a research note on Monday, October 16th. Barclays raised their price target on shares of Colgate-Palmolive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $89.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $86.93.

Get Our Latest Stock Report on CL

Colgate-Palmolive Stock Up 0.3 %

Shares of NYSE CL opened at $84.23 on Monday. The company’s 50-day simple moving average is $79.34 and its 200-day simple moving average is $75.86. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $84.59. The firm has a market cap of $69.35 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 3.20 and a beta of 0.44. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 21.40.

Colgate-Palmolive (NYSE:CLGet Free Report) last announced its earnings results on Friday, January 26th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts predict that Colgate-Palmolive will post 3.47 EPS for the current fiscal year.

Insider Activity at Colgate-Palmolive

In related news, Director Lorrie M. Norrington sold 6,329 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $74.56, for a total value of $471,890.24. Following the completion of the transaction, the director now owns 31,307 shares in the company, valued at $2,334,249.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $77.83, for a total transaction of $1,167,450.00. Following the completion of the transaction, the insider now owns 12,371 shares in the company, valued at approximately $962,834.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lorrie M. Norrington sold 6,329 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $74.56, for a total transaction of $471,890.24. Following the transaction, the director now owns 31,307 shares of the company’s stock, valued at approximately $2,334,249.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,129 shares of company stock worth $2,164,908. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Colgate-Palmolive by 5.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 87,530 shares of the company’s stock worth $6,224,000 after buying an additional 4,131 shares during the last quarter. FORVIS Wealth Advisors LLC raised its position in Colgate-Palmolive by 18.3% in the 2nd quarter. FORVIS Wealth Advisors LLC now owns 21,443 shares of the company’s stock valued at $1,652,000 after purchasing an additional 3,319 shares during the last quarter. Victory Capital Management Inc. raised its position in Colgate-Palmolive by 0.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,704,155 shares of the company’s stock valued at $131,288,000 after purchasing an additional 8,383 shares during the last quarter. IFP Advisors Inc raised its position in Colgate-Palmolive by 383.2% in the 2nd quarter. IFP Advisors Inc now owns 12,944 shares of the company’s stock valued at $811,000 after purchasing an additional 10,265 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in Colgate-Palmolive by 8.1% in the 3rd quarter. Clearstead Advisors LLC now owns 30,556 shares of the company’s stock valued at $2,173,000 after purchasing an additional 2,294 shares during the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

Colgate-Palmolive Company Profile

(Get Free Report)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

Further Reading

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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