Deutsche Bank Raises Colgate-Palmolive (NYSE:CL) Price Target to $73.00

Colgate-Palmolive (NYSE:CL) had its price target upped by research analysts at Deutsche Bank from $72.00 to $73.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s target price suggests a potential upside of 6.27% from the company’s current price.

Several other brokerages also recently commented on CL. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $70.00 target price on the stock. in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $78.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. ValuEngine upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Citigroup raised their price target on shares of Colgate-Palmolive from $77.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Berenberg Bank assumed coverage on shares of Colgate-Palmolive in a research note on Wednesday, October 16th. They set a “sell” rating and a $58.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $73.07.

Shares of NYSE:CL opened at $68.69 on Thursday. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 5.36 and a beta of 0.71. The firm’s 50 day simple moving average is $67.32 and its 200 day simple moving average is $70.92. The company has a debt-to-equity ratio of 43.94, a current ratio of 1.03 and a quick ratio of 0.70. Colgate-Palmolive has a fifty-two week low of $57.51 and a fifty-two week high of $76.41.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, November 1st. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.95 billion. Colgate-Palmolive had a net margin of 15.04% and a return on equity of 6,492.71%. Colgate-Palmolive’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Equities research analysts expect that Colgate-Palmolive will post 2.83 earnings per share for the current year.

In related news, Chairman Ian M. Cook sold 16,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.70, for a total value of $1,067,200.00. Following the completion of the transaction, the chairman now directly owns 1,099,361 shares of the company’s stock, valued at $73,327,378.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ian M. Cook sold 19,500 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $69.51, for a total transaction of $1,355,445.00. Following the completion of the transaction, the chairman now directly owns 1,066,725 shares of the company’s stock, valued at $74,148,054.75. The disclosure for this sale can be found here. Insiders have sold a total of 106,500 shares of company stock valued at $7,346,905 over the last ninety days. Company insiders own 1.14% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Bridger Capital Management LLC grew its stake in shares of Colgate-Palmolive by 0.8% in the third quarter. Bridger Capital Management LLC now owns 18,265 shares of the company’s stock valued at $1,243,000 after buying an additional 150 shares in the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Colgate-Palmolive by 3.0% in the third quarter. Cornerstone Advisors Inc. now owns 5,399 shares of the company’s stock valued at $397,000 after buying an additional 159 shares in the last quarter. Paragon Capital Management LLC grew its stake in shares of Colgate-Palmolive by 25.3% in the second quarter. Paragon Capital Management LLC now owns 842 shares of the company’s stock valued at $60,000 after buying an additional 170 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of Colgate-Palmolive by 2.7% in the third quarter. Merit Financial Group LLC now owns 6,545 shares of the company’s stock valued at $481,000 after buying an additional 171 shares in the last quarter. Finally, Cedar Capital LLC grew its stake in shares of Colgate-Palmolive by 3.7% in the second quarter. Cedar Capital LLC now owns 4,981 shares of the company’s stock valued at $357,000 after buying an additional 176 shares in the last quarter. 76.75% of the stock is owned by institutional investors and hedge funds.

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. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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