Colgate-Palmolive (NYSE:CL) Stock Price Target Lowered at Bank of America

Colgate-Palmolive (NYSE:CL) had its price objective reduced by Bank of America from $102.00 to $100.00 in a report released on Friday morning. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on CL. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Royal Bank Of Canada restated an “outperform” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, September 8th. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 target price (up from $100.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, Wells Fargo & Company lowered their price target on Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, October 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $98.11.

Colgate-Palmolive Stock Performance

NYSE CL opened at $88.19 on Friday. The business’s 50-day moving average price is $89.10 and its 200 day moving average price is $88.77. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a market capitalization of $70.31 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 4.11 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS 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 company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts predict that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 84.13%.

Insider Buying and Selling

In related news, CEO Noel Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Cahill sold 4,170 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 175,191 shares of company stock valued at $16,110,903. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Colgate-Palmolive

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

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.