Wells Fargo & Company Lowers Colgate-Palmolive (NYSE:CL) Price Target to $92.00

Colgate-Palmolive (NYSE:CL) had its price target lowered by Wells Fargo & Company from $100.00 to $92.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 8.06% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Tuesday, December 9th. UBS Group decreased their price objective on Colgate-Palmolive from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.13.

Colgate-Palmolive Stock Up 2.4%

Shares of CL traded up $2.01 during midday trading on Wednesday, reaching $85.14. 3,164,617 shares of the stock were exchanged, compared to its average volume of 6,946,119. Colgate-Palmolive has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The company’s 50 day moving average is $91.03 and its two-hundred day moving average is $83.50. The company has a market capitalization of $68.30 billion, a P/E ratio of 32.50, a PEG ratio of 3.91 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider directly owned 13,751 shares in the company, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after buying an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC raised its stake in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after buying an additional 304,426 shares during the last quarter. Morgan Stanley raised its stake in Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after buying an additional 323,367 shares during the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter valued at about $861,670,000. Finally, Deutsche Bank AG raised its stake in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after buying an additional 2,746,920 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.