Colgate-Palmolive (NYSE:CL) Given New $86.00 Price Target at Barclays

Colgate-Palmolive (NYSE:CL) had its target price decreased by Barclays from $89.00 to $86.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research firms have also issued reports on CL. Raymond James restated an “outperform” rating and issued a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. 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 report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.67.

Colgate-Palmolive Trading Up 2.4 %

NYSE CL opened at $93.99 on Friday. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. 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 stock has a 50 day moving average of $90.48 and a 200-day moving average of $92.65. The company has a market cap of $76.24 billion, a PE ratio of 26.70, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating 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 firm posted $0.87 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.21%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is presently 59.09%.

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

Institutional Trading of Colgate-Palmolive

Large investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after buying an additional 2,132,747 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Colgate-Palmolive by 18.6% during the third quarter. Sunbelt Securities Inc. now owns 3,238 shares of the company’s stock worth $336,000 after acquiring an additional 507 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Colgate-Palmolive by 6.9% in the third quarter. Rehmann Capital Advisory Group now owns 2,801 shares of the company’s stock worth $294,000 after acquiring an additional 180 shares during the last quarter. Soltis Investment Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $235,000. Finally, M&T Bank Corp grew its holdings in shares of Colgate-Palmolive by 8.2% during the 3rd quarter. M&T Bank Corp now owns 288,050 shares of the company’s stock valued at $29,903,000 after purchasing an additional 21,862 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.