Colgate-Palmolive (CL) PT Lowered to $62.00 at Wells Fargo & Co
Colgate-Palmolive (NYSE:CL) had its price objective decreased by Wells Fargo & Co from $64.00 to $62.00 in a report issued on Wednesday morning. Wells Fargo & Co currently has a market perform rating on the stock.
Other equities research analysts have also recently issued reports about the company. Argus reissued a buy rating and set a $75.00 price target (up from $72.00) on shares of Colgate-Palmolive in a report on Tuesday, September 18th. UBS Group upgraded Colgate-Palmolive from a neutral rating to a buy rating and raised their price objective for the company from $70.00 to $75.00 in a research report on Wednesday, July 18th. Morgan Stanley cut their price objective on Colgate-Palmolive from $69.00 to $67.00 and set an equal weight rating for the company in a research report on Thursday, June 21st. Zacks Investment Research upgraded Colgate-Palmolive from a sell rating to a hold rating in a research report on Tuesday, September 18th. Finally, Barclays set a $64.00 price objective on Colgate-Palmolive and gave the company a hold rating in a research report on Monday, July 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $70.79.
NYSE:CL opened at $64.52 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49. The stock has a market cap of $54.36 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.87 and a beta of 0.72. Colgate-Palmolive has a 52 week low of $61.28 and a 52 week high of $77.91.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.60%. Colgate-Palmolive’s payout ratio is 58.54%.
In related news, CFO Henning I. Jakobsen sold 1,015 shares of Colgate-Palmolive stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $68,055.75. Following the completion of the transaction, the chief financial officer now owns 36,193 shares in the company, valued at $2,426,740.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $65.72, for a total value of $7,886,400.00. Following the completion of the transaction, the insider now owns 202,414 shares of the company’s stock, valued at approximately $13,302,648.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 395,779 shares of company stock valued at $26,108,856. Company insiders own 1.02% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rainier Group Investment Advisory LLC purchased a new position in Colgate-Palmolive in the first quarter worth about $107,000. CSat Investment Advisory L.P. purchased a new position in Colgate-Palmolive in the second quarter worth about $111,000. Bridgeworth LLC purchased a new position in Colgate-Palmolive in the second quarter worth about $120,000. Fort L.P. purchased a new position in Colgate-Palmolive in the second quarter worth about $123,000. Finally, O Brien Wealth Partners LLC purchased a new position in Colgate-Palmolive in the third quarter worth about $123,000. Institutional investors own 74.95% of the company’s stock.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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