Piper Sandler Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its price target cut by analysts at Piper Sandler from $108.00 to $107.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 13.89% from the stock’s previous close.

CL has been the topic of several other reports. Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped 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. Barclays lifted their target price on Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, Stifel Nicolaus lowered their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.78.

Colgate-Palmolive Trading Up 0.3 %

CL stock opened at $93.95 on Monday. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The business has a 50 day simple moving average of $89.91 and a two-hundred day simple moving average of $93.35. The company has a market capitalization of $76.20 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results 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 prior year, the company posted $0.87 EPS. Research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CL. Axxcess Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 0.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after acquiring an additional 117 shares during the last quarter. Commonwealth Financial Services LLC increased its position in shares of Colgate-Palmolive by 4.5% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock worth $247,000 after purchasing an additional 118 shares in the last quarter. Wescott Financial Advisory Group LLC increased its position in shares of Colgate-Palmolive by 3.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock worth $320,000 after purchasing an additional 119 shares in the last quarter. D Orazio & Associates Inc. raised its stake in Colgate-Palmolive by 4.2% in the 4th quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after purchasing an additional 120 shares during the last quarter. Finally, Lantz Financial LLC lifted its holdings in Colgate-Palmolive by 0.6% in the 4th quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock valued at $1,831,000 after purchasing an additional 122 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.