Royal Bank Of Canada reaffirmed their outperform rating on shares of Colgate-Palmolive (NYSE:CL – Free Report) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has a $104.00 target price on the stock.
Several other research firms have also weighed in on CL. Barclays increased their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Piper Sandler lifted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.00.
Get Our Latest Stock Report on CL
Colgate-Palmolive Stock Performance
Colgate-Palmolive (NYSE:CL – Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The business 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%. Colgate-Palmolive’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.87 earnings per share for the current year.
Insider Transactions at Colgate-Palmolive
In other Colgate-Palmolive news, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.
Institutional Investors Weigh In On Colgate-Palmolive
Several hedge funds have recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. TD Capital Management LLC raised its stake in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the period. Triumph Capital Management raised its stake in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.
About Colgate-Palmolive
Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.
The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.
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