Sanford C. Bernstein Raises Colgate-Palmolive (NYSE:CL) Price Target to $103.00

Colgate-Palmolive (NYSE:CL) had its price target lifted by analysts at Sanford C. Bernstein from $100.00 to $103.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 2.97% from the company’s previous close.

Several other research firms have also recently weighed in on CL. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Friday. Barclays increased their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup increased their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $92.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada increased their price objective on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $100.84.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded down $0.85 during trading hours on Tuesday, reaching $100.03. 2,676,721 shares of the company were exchanged, compared to its average volume of 4,394,867. The firm has a market cap of $82.07 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.57 and a beta of 0.39. The company has a current ratio of 0.42, a quick ratio of 0.28 and a debt-to-equity ratio of 13.21. The stock has a 50-day moving average of $95.96 and a 200 day moving average of $90.34. Colgate-Palmolive has a 12 month low of $67.62 and a 12 month high of $101.42.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, research analysts anticipate that Colgate-Palmolive will post 3.55 earnings per share for the current year.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 12,226 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 5.4% in the second quarter. International Assets Investment Management LLC now owns 3,141 shares of the company’s stock valued at $305,000 after buying an additional 162 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Colgate-Palmolive by 1.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 93,564 shares of the company’s stock valued at $9,079,000 after buying an additional 1,192 shares during the last quarter. Signaturefd LLC increased its position in Colgate-Palmolive by 26.5% in the second quarter. Signaturefd LLC now owns 17,705 shares of the company’s stock worth $1,718,000 after purchasing an additional 3,711 shares during the period. Arjuna Capital increased its position in Colgate-Palmolive by 0.8% in the second quarter. Arjuna Capital now owns 38,004 shares of the company’s stock worth $3,688,000 after purchasing an additional 314 shares during the period. Finally, Bank OZK acquired a new stake in Colgate-Palmolive in the second quarter worth about $212,000. 80.41% of the stock is owned by 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.