JPMorgan Chase & Co. Cuts Colgate-Palmolive (NYSE:CL) Price Target to $103.00

Colgate-Palmolive (NYSE:CL) had its price target reduced by JPMorgan Chase & Co. from $104.00 to $103.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on the company. Citigroup raised their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Piper Sandler raised their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $93.24 on Monday. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market capitalization of $74.33 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 4.52 and a beta of 0.33. The business has a 50 day simple moving average of $91.05 and a 200 day simple moving average of $89.66. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Colgate-Palmolive will post 3.85 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CL. Kemnay Advisory Services Inc. acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. TD Capital Management LLC grew its stake in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management grew its stake in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $26,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

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.