Colgate-Palmolive (NYSE:CL) Price Target Cut to $100.00 by Analysts at TD Cowen

Colgate-Palmolive (NYSE:CL) had its price target reduced by TD Cowen from $110.00 to $100.00 in a report released on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the stock from $105.00 to $101.00 in a report on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.63.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $87.39 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The business’s 50 day moving average price is $92.89 and its two-hundred day moving average price is $98.23. The company has a market cap of $71.40 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a twelve month low of $79.69 and a twelve month high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.29%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently added to or reduced their stakes in the business. Choreo LLC raised its position in Colgate-Palmolive by 200.8% during the 2nd quarter. Choreo LLC now owns 22,489 shares of the company’s stock worth $2,153,000 after purchasing an additional 15,013 shares during the last quarter. LGT Fund Management Co Ltd. lifted its stake in shares of Colgate-Palmolive by 13.9% in the second quarter. LGT Fund Management Co Ltd. now owns 8,457 shares of the company’s stock worth $821,000 after acquiring an additional 1,032 shares during the period. Royal London Asset Management Ltd. boosted its holdings in Colgate-Palmolive by 0.6% in the second quarter. Royal London Asset Management Ltd. now owns 430,779 shares of the company’s stock valued at $41,803,000 after acquiring an additional 2,623 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Colgate-Palmolive by 9.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 92,341 shares of the company’s stock valued at $8,961,000 after purchasing an additional 8,110 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in Colgate-Palmolive by 2.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 10,709 shares of the company’s stock worth $1,039,000 after purchasing an additional 221 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

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.