Wells Fargo & Company Cuts Colgate-Palmolive (NYSE:CL) Price Target to $90.00

Colgate-Palmolive (NYSE:CL) had its price target trimmed by Wells Fargo & Company from $95.00 to $90.00 in a report released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. TD Cowen boosted their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. UBS Group raised their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.65.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $87.26 on Monday. The business has a 50 day simple moving average of $89.23 and a 200 day simple moving average of $88.75. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The company has a market capitalization of $69.56 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 4.07 and a beta of 0.33. Colgate-Palmolive has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. On average, sell-side analysts forecast that Colgate-Palmolive will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, Director John Cahill sold 4,170 shares of the business’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 of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cooper Financial Group boosted its holdings in Colgate-Palmolive by 4.0% during the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after buying an additional 114 shares in the last quarter. Gould Capital LLC grew its position in Colgate-Palmolive by 38.7% during the first 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 period. Redhawk Wealth Advisors Inc. increased its holdings in Colgate-Palmolive by 2.8% in the second 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 in the last quarter. SVB Wealth LLC raised its position in shares of Colgate-Palmolive by 1.4% in the second quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock worth $804,000 after acquiring an additional 119 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in shares of Colgate-Palmolive by 32.8% in 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 period. 80.41% of the stock is currently owned by institutional investors.

About Colgate-Palmolive

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.