Colgate-Palmolive (NYSE:CL) Coverage Initiated at Piper Sandler

Equities researchers at Piper Sandler initiated coverage on shares of Colgate-Palmolive (NYSE:CL) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $121.00 price target on the stock. Piper Sandler’s price target would suggest a potential upside of 16.62% from the stock’s previous close.

CL has been the topic of several other research reports. BNP Paribas began coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They set an “outperform” rating and a $109.00 price objective on the stock. Bank of America upped their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. TD Cowen increased their target price on Colgate-Palmolive from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $104.74.

Colgate-Palmolive Stock Down 0.0 %

Shares of NYSE CL opened at $103.76 on Tuesday. The firm has a fifty day simple moving average of $102.96 and a two-hundred day simple moving average of $96.10. The firm has a market capitalization of $85.13 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. During the same period last year, the business posted $0.77 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock valued at $6,368,378,000 after buying an additional 416,853 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after acquiring an additional 8,933,912 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after acquiring an additional 2,593,313 shares during the period. Legal & General Group Plc raised its stake in Colgate-Palmolive by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after purchasing an additional 61,413 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its holdings in Colgate-Palmolive by 4.1% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after purchasing an additional 278,150 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other 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.