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

Colgate-Palmolive (NYSE:CL) had its target price decreased by Piper Sandler from $121.00 to $112.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research firms have also weighed in on CL. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price target for the company from $107.00 to $109.00 in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.63.

Colgate-Palmolive Price Performance

NYSE:CL opened at $87.42 on Monday. The stock has a market capitalization of $71.42 billion, a PE ratio of 25.05, a P/E/G ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a 1-year low of $79.69 and a 1-year high of $109.30. The firm has a fifty day simple moving average of $93.18 and a 200 day simple moving average of $98.38. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gordian Advisors LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at approximately $602,000. Carrera Capital Advisors increased its holdings in Colgate-Palmolive by 23.1% in the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the period. Vontobel Holding Ltd. raised its position in Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after purchasing an additional 550,750 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Colgate-Palmolive by 10.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after buying an additional 32,624 shares during the period. Finally, Barclays PLC grew its position in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the last quarter. 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.