Piper Sandler Cuts Colgate-Palmolive (NYSE:CL) Price Target to $112.00

Colgate-Palmolive (NYSE:CL) had its target price decreased by Piper Sandler from $121.00 to $112.00 in a research note issued to investors on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on CL. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price objective for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. TD Cowen dropped their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Finally, Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the company from $105.00 to $101.00 in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.63.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $87.39 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The firm has a market cap of $71.40 billion, a PE ratio of 25.04, a P/E/G ratio of 3.31 and a beta of 0.44. The stock’s 50 day simple moving average is $92.89 and its two-hundred day simple moving average is $98.23. Colgate-Palmolive has a 12 month low of $79.69 and a 12 month high of $109.30.

Colgate-Palmolive Dividend Announcement

The firm 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. This represents a $2.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive during the third quarter worth about $53,000. Prospera Private Wealth LLC acquired a new stake in shares of Colgate-Palmolive during the third quarter worth about $64,000. True Wealth Design LLC lifted its position in shares of Colgate-Palmolive by 1,460.9% during the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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.