Piper Sandler Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price lowered by Piper Sandler from $108.00 to $107.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 13.89% from the company’s current price.

CL has been the subject of several other reports. Barclays raised their price target on Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Raymond James reaffirmed an “outperform” rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, TD Cowen dropped their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.78.

Colgate-Palmolive Price Performance

Shares of 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. The company has a market capitalization of $76.20 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The firm’s 50-day moving average is $89.91 and its two-hundred day moving average is $93.35. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $0.87 EPS. Analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its Board of Directors has approved a share repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds have recently modified their holdings of CL. Kohmann Bosshard Financial Services LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth about $31,000. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive during the fourth quarter worth about $32,000. Finally, Briaud Financial Planning Inc acquired a new stake in Colgate-Palmolive in the fourth quarter valued at about $32,000. 80.41% of the stock is owned by institutional investors and hedge funds.

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.