Piper Sandler Begins Coverage on Colgate-Palmolive (NYSE:CL)

Investment analysts at Piper Sandler initiated coverage on shares of Colgate-Palmolive (NYSE:CL) in a report issued on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $121.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 17.12% from the stock’s current price.

CL has been the subject of a number of other research reports. Barclays boosted their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Morgan Stanley upped their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Hsbc Global Res cut shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Finally, Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.74.

Colgate-Palmolive Stock Performance

CL stock opened at $103.31 on Tuesday. The firm has a market cap of $84.76 billion, a P/E ratio of 32.69, a P/E/G ratio of 3.72 and a beta of 0.40. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $109.30. The stock’s 50 day simple moving average is $102.83 and its 200 day simple moving average is $95.99. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Insider Buying and Selling at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC bought a new stake in Colgate-Palmolive in the fourth quarter worth $225,000. Orion Portfolio Solutions LLC boosted its position in Colgate-Palmolive by 13.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 50,526 shares of the company’s stock worth $4,062,000 after purchasing an additional 5,888 shares during the period. Heritage Wealth Advisors grew its holdings in Colgate-Palmolive by 56.7% during the fourth quarter. Heritage Wealth Advisors now owns 1,266 shares of the company’s stock valued at $101,000 after purchasing an additional 458 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Colgate-Palmolive by 4.5% in the fourth quarter. Parallel Advisors LLC now owns 84,775 shares of the company’s stock valued at $6,757,000 after purchasing an additional 3,638 shares during the period. Finally, 3Chopt Investment Partners LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $285,000. Hedge funds and other institutional investors 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.