Colgate-Palmolive (NYSE:CL) Raised to Outperform at Credit Suisse Group

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Colgate-Palmolive (NYSE:CL) was upgraded by investment analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, Briefing.com reports. The firm currently has a $95.00 price objective on the stock, up from their prior price objective of $80.00. Credit Suisse Group’s price objective indicates a potential upside of 14.55% from the stock’s current price.

A number of other research firms also recently commented on CL. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, April 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, May 3rd. Finally, Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $85.00 target price on the stock in a research report on Monday, May 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $84.42.

Shares of Colgate-Palmolive stock opened at $82.93 on Wednesday. The firm has a 50-day simple moving average of $81.65. Colgate-Palmolive has a 52 week low of $71.21 and a 52 week high of $86.41. The stock has a market capitalization of $70.16 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 4.26 and a beta of 0.61. The company has a quick ratio of 0.64, a current ratio of 1.01 and a debt-to-equity ratio of 11.42.

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Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Thursday, April 29th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Colgate-Palmolive had a return on equity of 298.80% and a net margin of 15.92%. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. Analysts forecast that Colgate-Palmolive will post 3.28 earnings per share for the current year.

In related news, insider John W. Kooyman sold 11,195 shares of the stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $82.07, for a total value of $918,773.65. Following the transaction, the insider now owns 19,251 shares of the company’s stock, valued at $1,579,929.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Patricia Verduin sold 46,566 shares of the stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $80.89, for a total value of $3,766,723.74. Following the completion of the transaction, the chief technology officer now directly owns 100,680 shares in the company, valued at approximately $8,144,005.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,040 shares of company stock worth $7,384,255. Insiders own 0.32% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC lifted its holdings in Colgate-Palmolive by 19.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 14,520 shares of the company’s stock worth $1,143,000 after buying an additional 2,354 shares during the period. Northeast Investment Management lifted its holdings in shares of Colgate-Palmolive by 2.1% during the 1st quarter. Northeast Investment Management now owns 61,997 shares of the company’s stock valued at $4,887,000 after purchasing an additional 1,257 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Colgate-Palmolive by 5.7% during the 4th quarter. First Mercantile Trust Co. now owns 31,963 shares of the company’s stock valued at $2,733,000 after purchasing an additional 1,716 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Colgate-Palmolive by 9.9% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 125,976 shares of the company’s stock valued at $10,772,000 after purchasing an additional 11,296 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its holdings in shares of Colgate-Palmolive by 31.4% during the 4th quarter. State of Tennessee Treasury Department now owns 227,424 shares of the company’s stock valued at $19,448,000 after purchasing an additional 54,293 shares during the last quarter. 76.01% 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 worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment’s products include 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 similar items.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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