Wells Fargo & Company Raises Colgate-Palmolive (NYSE:CL) Price Target to $88.00

Colgate-Palmolive (NYSE:CL - Free Report) had its price objective boosted by Wells Fargo & Company from $83.00 to $88.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Raymond James reissued an "outperform" rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. TD Cowen reduced their price target 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. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $97.00 to $99.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. StockNews.com cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Finally, Piper Sandler reduced their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and an average target price of $102.06.

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Colgate-Palmolive Trading Down 3.1 %

Shares of NYSE:CL traded down $2.87 during trading on Wednesday, reaching $88.79. 2,837,763 shares of the company traded hands, compared to its average volume of 4,527,027. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The business's fifty day moving average is $90.27 and its 200-day moving average is $93.13. The firm has a market capitalization of $72.02 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 4.20 and a beta of 0.40.

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

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a $0.52 dividend. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive's dividend payout ratio (DPR) is 59.09%.

Colgate-Palmolive declared that its board has authorized a share repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bath Savings Trust Co lifted its stake in shares of Colgate-Palmolive by 19.8% in the 1st quarter. Bath Savings Trust Co now owns 69,668 shares of the company's stock worth $6,528,000 after purchasing an additional 11,531 shares during the period. Nexus Investment Management ULC bought a new position in Colgate-Palmolive in the first quarter worth approximately $91,000. Exeter Financial LLC boosted its stake in shares of Colgate-Palmolive by 2.9% during the 1st quarter. Exeter Financial LLC now owns 14,248 shares of the company's stock worth $1,335,000 after acquiring an additional 395 shares during the last quarter. Legacy Private Trust Co. bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $356,000. Finally, Versant Capital Management Inc increased its stake in shares of Colgate-Palmolive by 222.2% in the 1st quarter. Versant Capital Management Inc now owns 6,060 shares of the company's stock worth $568,000 after purchasing an additional 4,179 shares in the last quarter. 80.41% of the stock is 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.