Colgate-Palmolive (NYSE:CL) Sets New 12-Month Low – Here’s What Happened

Colgate-Palmolive Company (NYSE:CL) reached a new 52-week low on Tuesday . The stock traded as low as $76.68 and last traded at $76.99, with a volume of 5757419 shares changing hands. The stock had previously closed at $77.96.

Analyst Ratings Changes

Several research firms have weighed in on CL. Citigroup dropped their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Morgan Stanley dropped their target price on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Barclays dropped their target price on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. The Goldman Sachs Group dropped their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Finally, Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $92.21.

Colgate-Palmolive Stock Down 1.2%

The firm has a 50 day moving average price of $82.44 and a 200-day moving average price of $87.73. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market cap of $62.22 billion, a PE ratio of 21.63, a PEG ratio of 4.29 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.7%. Colgate-Palmolive’s payout ratio is presently 58.43%.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently added to or reduced their stakes in the business. Personal CFO Solutions LLC purchased a new stake in Colgate-Palmolive during the first quarter worth approximately $285,000. Vision Capital Management Inc. purchased a new stake in Colgate-Palmolive during the first quarter worth approximately $322,000. Autumn Glory Partners LLC lifted its stake in Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock worth $851,000 after purchasing an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Colgate-Palmolive during the first quarter worth approximately $2,166,000. Finally, Penserra Capital Management LLC increased its position in Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after buying an additional 8,515 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

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.