Morgan Stanley Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price decreased by equities researchers at Morgan Stanley from $100.00 to $95.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 13.57% from the stock’s previous close.

Other analysts have also issued reports about the stock. Evercore upped their price objective on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 price target on shares of Colgate-Palmolive in a research report on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. Finally, TD Cowen reissued a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.56.

Colgate-Palmolive Trading Up 1.6%

Shares of NYSE CL traded up $1.30 during trading hours on Thursday, reaching $83.65. The stock had a trading volume of 2,425,868 shares, compared to its average volume of 6,689,607. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $67.11 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 4.17 and a beta of 0.34. The business’s fifty day moving average price is $89.27 and its two-hundred day moving average price is $83.82. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.Colgate-Palmolive’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. Analysts expect that Colgate-Palmolive will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. This trade represents a 63.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,851 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the sale, the insider directly owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last 90 days. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares during the last quarter. Providence Capital Advisors LLC acquired a new stake in Colgate-Palmolive during the 3rd quarter worth approximately $5,373,000. Asset Management One Co. Ltd. raised its stake in shares of Colgate-Palmolive by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after acquiring an additional 16,017 shares during the period. Citigroup Inc. lifted its holdings in shares of Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after acquiring an additional 409,710 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in Colgate-Palmolive by 248.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock worth $6,909,000 after purchasing an additional 62,327 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

About Colgate-Palmolive

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.