Colgate-Palmolive (NYSE:CL) Stock Price Target Lowered at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its price objective reduced by Wells Fargo & Company from $95.00 to $90.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other analysts have also issued research reports about the company. Barclays increased their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. dropped their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, September 21st. Morgan Stanley reissued an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Citigroup raised their target price on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.65.

Colgate-Palmolive Stock Up 2.3%

Shares of NYSE:CL opened at $86.21 on Monday. The company has a market cap of $68.72 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 3.93 and a beta of 0.33. Colgate-Palmolive has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The company has a 50-day moving average price of $89.48 and a 200 day moving average price of $88.74.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, equities research analysts predict that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Noel Wallace sold 161,021 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 175,191 shares of company stock worth $16,110,903 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors and hedge funds have recently bought and sold shares of the company. Cooper Financial Group increased its stake in Colgate-Palmolive by 4.0% in the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after purchasing an additional 114 shares in the last quarter. Gould Capital LLC boosted its position in shares of Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Colgate-Palmolive by 2.8% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock valued at $397,000 after buying an additional 118 shares during the period. SVB Wealth LLC increased its position in Colgate-Palmolive by 1.4% in the 2nd quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock valued at $804,000 after buying an additional 119 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in Colgate-Palmolive by 32.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 486 shares of the company’s stock worth $42,000 after buying an additional 120 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.