TD Cowen Cuts Colgate-Palmolive (NYSE:CL) Price Target to $100.00

Colgate-Palmolive (NYSE:CL) had its price target trimmed by TD Cowen from $110.00 to $100.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Piper Sandler lowered their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Wells Fargo & Company cut their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $103.63.

Colgate-Palmolive Trading Down 1.2 %

Shares of CL opened at $86.38 on Wednesday. The firm has a market capitalization of $70.57 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 3.31 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a 1-year low of $79.69 and a 1-year high of $109.30. The company has a 50-day moving average of $92.62 and a 200 day moving average of $98.07.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insiders Place Their Bets

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CL. Gordian Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $602,000. Carrera Capital Advisors lifted its holdings in shares of Colgate-Palmolive by 23.1% in the 3rd 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 last quarter. Vontobel Holding Ltd. boosted its position in shares of Colgate-Palmolive by 224.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after purchasing an additional 550,750 shares during the period. Handelsbanken Fonder AB grew its stake 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 last quarter. Finally, Barclays PLC increased its position in Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after buying an additional 2,132,747 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

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.