Barclays Lowers Colgate-Palmolive (NYSE:CL) Price Target to $83.00

Colgate-Palmolive (NYSE:CL) had its price target cut by Barclays from $96.00 to $83.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $101.00 in a research note on Monday, October 28th. TD Cowen cut their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.11.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $88.79 on Friday. The business’s 50-day simple moving average is $92.20 and its 200 day simple moving average is $97.75. The company has a market cap of $72.55 billion, a P/E ratio of 25.44, a PEG ratio of 3.01 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a one year low of $79.69 and a one year high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.25%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Apeiron RIA LLC boosted its position in Colgate-Palmolive by 5.1% during the 4th quarter. Apeiron RIA LLC now owns 7,745 shares of the company’s stock worth $704,000 after acquiring an additional 379 shares during the period. Whalen Wealth Management Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter worth about $291,000. Wesbanco Bank Inc. grew its position in Colgate-Palmolive by 1.7% in the 4th quarter. Wesbanco Bank Inc. now owns 15,066 shares of the company’s stock valued at $1,370,000 after buying an additional 250 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Colgate-Palmolive by 2.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 387,487 shares of the company’s stock valued at $35,227,000 after buying an additional 8,293 shares during the period. Finally, Atomi Financial Group Inc. raised its position in shares of Colgate-Palmolive by 6.5% during the 4th quarter. Atomi Financial Group Inc. now owns 6,489 shares of the company’s stock worth $590,000 after buying an additional 394 shares in the last quarter. 80.41% 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 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.