Bank of America Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price reduced by Bank of America from $98.00 to $88.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 13.08% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. UBS Group lowered their target price on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday. Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Eight investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $93.23.

Colgate-Palmolive Stock Down 0.2%

Shares of NYSE CL opened at $77.82 on Wednesday. The company’s 50 day moving average price is $82.67 and its 200-day moving average price is $87.99. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive has a 52-week low of $77.09 and a 52-week high of $102.61. The company has a market capitalization of $62.90 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 4.05 and a beta of 0.34.

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

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds have recently made changes to their positions in the business. Westend Capital Management LLC increased its holdings in 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 last quarter. Westside Investment Management Inc. increased its stake in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank bought a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $29,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in Colgate-Palmolive by 86.1% in the second 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 last quarter. 80.41% of the stock is currently owned by institutional investors.

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.