Colgate-Palmolive (NYSE:CL) Price Target Cut to $92.00 by Analysts at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its target price reduced by Wells Fargo & Company from $100.00 to $92.00 in a report published on Monday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other research analysts have also commented on CL. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Sanford C. Bernstein lifted their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. Finally, Citigroup boosted their price target on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $95.79 on Monday. The company’s fifty day moving average price is $103.03 and its 200 day moving average price is $98.13. Colgate-Palmolive has a 12 month low of $72.36 and a 12 month high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The firm has a market capitalization of $78.59 billion, a P/E ratio of 30.31, a P/E/G ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the sale, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares during the last quarter. Swedbank AB acquired a new position in Colgate-Palmolive during the first quarter worth approximately $286,370,000. Acadian Asset Management LLC increased its position in Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after purchasing an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after purchasing an additional 2,593,313 shares during the last quarter. Finally, Ossiam increased its position in Colgate-Palmolive by 368.4% during the first quarter. Ossiam now owns 1,563,768 shares of the company’s stock worth $140,817,000 after purchasing an additional 1,229,891 shares during the last quarter. Hedge funds and other institutional investors 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.