StockNews.com Upgrades Colgate-Palmolive (NYSE:CL) to Buy

Colgate-Palmolive (NYSE:CL - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also issued reports on CL. Piper Sandler decreased their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. UBS Group cut their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Morgan Stanley lowered their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, TD Cowen cut their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.06.

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Colgate-Palmolive Stock Performance

CL stock traded up $2.34 on Friday, reaching $90.94. The company's stock had a trading volume of 3,243,155 shares, compared to its average volume of 4,551,847. The firm has a fifty day moving average of $90.18 and a two-hundred day moving average of $92.91. 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 company has a market capitalization of $73.76 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 company earned $0.87 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. raised its holdings in shares of Colgate-Palmolive by 112,160.0% during the 1st quarter. NBC Securities Inc. now owns 5,613 shares of the company's stock valued at $525,000 after purchasing an additional 5,608 shares in the last quarter. Fiduciary Alliance LLC raised its holdings in Colgate-Palmolive by 9.3% during the first quarter. Fiduciary Alliance LLC now owns 48,910 shares of the company's stock valued at $4,583,000 after buying an additional 4,181 shares in the last quarter. Wright Investors Service Inc. acquired a new stake in shares of Colgate-Palmolive in the first quarter worth about $2,091,000. Czech National Bank lifted its position in shares of Colgate-Palmolive by 5.2% in the first quarter. Czech National Bank now owns 186,397 shares of the company's stock worth $17,465,000 after buying an additional 9,252 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Colgate-Palmolive by 7.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 11,575 shares of the company's stock worth $1,085,000 after acquiring an additional 808 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

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.