Colgate-Palmolive (NYSE:CL) Price Target Cut to $92.00

Colgate-Palmolive (NYSE:CL) had its price target lowered by Wells Fargo & Company from $100.00 to $92.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

CL has been the subject of several other reports. Bank of America upped their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. UBS Group upped their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $105.00 to $101.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $95.79 on Monday. Colgate-Palmolive has a 52-week low of $72.36 and a 52-week high of $109.30. The firm has a fifty day moving average of $103.03 and a 200-day moving average of $98.13. The firm has a market capitalization of $78.59 billion, a P/E ratio of 30.31, a PEG ratio of 3.54 and a beta of 0.40. The company has a quick ratio of 0.70, a current ratio of 1.06 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 (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.09%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insider Buying and Selling

In related news, insider Sally Massey sold 15,850 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sally Massey sold 15,850 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the completion of the sale, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,490 shares of company stock valued at $4,486,063 in the last quarter. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

Large investors have recently bought and sold shares of the stock. Diversify Advisory Services LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $911,000. TD Asset Management Inc boosted its holdings in shares of Colgate-Palmolive by 2.4% in the first quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock worth $103,969,000 after buying an additional 26,987 shares during the period. Empowered Funds LLC boosted its holdings in shares of Colgate-Palmolive by 277.3% during the first quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock worth $2,979,000 after purchasing an additional 24,314 shares during the period. M&G Plc acquired a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $3,812,000. Finally, Sei Investments Co. boosted its holdings in shares of Colgate-Palmolive by 41.5% during the first quarter. Sei Investments Co. now owns 598,639 shares of the company’s stock worth $53,901,000 after purchasing an additional 175,445 shares during the period. 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.