Colgate-Palmolive (NYSE:CL) Rating Increased to Buy at StockNews.com

Colgate-Palmolive (NYSE:CL) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other analysts also recently issued reports on CL. Raymond James reissued an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Morgan Stanley cut their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group lowered their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. TD Cowen cut their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.06.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded down $4.26 during mid-day trading on Friday, reaching $91.75. The company’s stock had a trading volume of 7,434,309 shares, compared to its average volume of 4,529,292. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The business has a 50 day moving average price of $90.27 and a 200-day moving average price of $93.28. The firm has a market cap of $74.41 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the prior year, the company posted $0.87 EPS. Sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has authorized a stock repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Colgate-Palmolive

Hedge funds have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC purchased a new position in Colgate-Palmolive in the 4th quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth approximately $27,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $32,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

About Colgate-Palmolive

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.