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

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

A number of other equities analysts also recently issued reports on the company. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. TD Cowen dropped 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 note on Wednesday, January 8th. Finally, Piper Sandler lowered their price target on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $102.61.

Colgate-Palmolive Stock Down 2.2 %

NYSE:CL traded down $2.04 during mid-day trading on Monday, hitting $91.87. The stock had a trading volume of 2,281,962 shares, compared to its average volume of 5,457,496. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The stock has a 50-day simple moving average of $92.07 and a two-hundred day simple moving average of $92.12. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company has a market capitalization of $74.51 billion, a PE ratio of 26.10, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period last year, the business earned $0.86 EPS. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors and hedge funds have recently made changes to their positions in the business. Westend Capital Management LLC lifted its position in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at $27,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive in the fourth quarter valued at $31,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $32,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

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.