The Goldman Sachs Group Cuts Colgate-Palmolive (NYSE:CL) Price Target to $91.00

Colgate-Palmolive (NYSE:CL) had its price target lowered by The Goldman Sachs Group from $106.00 to $91.00 in a research report report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. Citigroup decreased their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. UBS Group lowered their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Morgan Stanley cut their target price on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, Wells Fargo & Company decreased their price target on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.83.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $78.01 on Thursday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 4.06 and a beta of 0.34. The stock’s fifty day moving average price is $83.29 and its two-hundred day moving average price is $88.32. Colgate-Palmolive has a one year low of $77.91 and a one year high of $102.61.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Colgate-Palmolive’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.7%. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Westend Capital Management LLC increased its position in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 140 shares during the period. Westside Investment Management Inc. boosted its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 287 shares during the period. Saudi Central Bank bought a new position in shares of Colgate-Palmolive in the 1st quarter worth about $29,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in shares of Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.