Colgate-Palmolive (NYSE:CL – Get Free Report) had its price objective decreased by analysts at JPMorgan Chase & Co. from $104.00 to $103.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 12.76% from the stock’s previous close.
A number of other research firms also recently commented on CL. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Monday. Wells Fargo & Company upped their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price on the stock. UBS Group reaffirmed a “buy” rating and set a $109.00 target price on shares of Colgate-Palmolive in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $98.71.
Read Our Latest Research Report on Colgate-Palmolive
Colgate-Palmolive Stock Performance
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.82 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC bought a new stake in Colgate-Palmolive during the second quarter worth $229,000. Tema ETFs LLC boosted its holdings in shares of Colgate-Palmolive by 9.6% in the 2nd quarter. Tema ETFs LLC now owns 13,213 shares of the company’s stock worth $1,211,000 after buying an additional 1,160 shares during the last quarter. Generali Investments Management Co LLC grew its position in Colgate-Palmolive by 22.9% during the second quarter. Generali Investments Management Co LLC now owns 25,401 shares of the company’s stock valued at $2,329,000 after buying an additional 4,736 shares during the period. E. Ohman J or Asset Management AB raised its position in Colgate-Palmolive by 14.8% in the second quarter. E. Ohman J or Asset Management AB now owns 564,311 shares of the company’s stock worth $51,736,000 after acquiring an additional 72,576 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Colgate-Palmolive by 6.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 332,176 shares of the company’s stock valued at $30,454,000 after acquiring an additional 18,816 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.
The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.
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