JPMorgan Chase & Co. Increases Colgate-Palmolive (NYSE:CL) Price Target to $103.00

Colgate-Palmolive (NYSE:CL) had its price target increased by research analysts at JPMorgan Chase & Co. from $95.00 to $103.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.12% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Raymond James restated an “outperform” rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Barclays decreased their price target on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.61.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $2.04 during trading on Monday, reaching $91.87. 2,281,962 shares of the stock traded hands, compared to its average volume of 5,457,496. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The business has a fifty day simple moving average of $92.07 and a two-hundred day simple moving average of $92.12. The company has a market capitalization of $74.51 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the company posted $0.86 EPS. Sell-side analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive announced that its board has approved a stock repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Colgate-Palmolive

A number of hedge funds and other institutional investors have recently modified their holdings of CL. Cornerstone Wealth Management LLC grew its position in Colgate-Palmolive by 1.2% in the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock valued at $847,000 after acquiring an additional 110 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Colgate-Palmolive by 0.3% in the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after purchasing an additional 117 shares during the period. Commonwealth Financial Services LLC grew its holdings in shares of Colgate-Palmolive by 4.5% in the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after purchasing an additional 118 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in Colgate-Palmolive by 3.5% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock worth $320,000 after buying an additional 119 shares in the last quarter. Finally, D Orazio & Associates Inc. boosted its position in Colgate-Palmolive by 4.2% in the 4th quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after buying an additional 120 shares during the period. 80.41% of the stock is currently 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.