Colgate-Palmolive (NYSE:CL) Price Target Lowered to $95.00 at Piper Sandler

Colgate-Palmolive (NYSE:CL) had its target price trimmed by Piper Sandler from $98.00 to $95.00 in a research report released on Monday, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. UBS Group lifted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Barclays upped their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $98.94.

Colgate-Palmolive Stock Performance

CL stock opened at $86.25 on Monday. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The stock has a market capitalization of $68.76 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 4.08 and a beta of 0.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The stock’s fifty day moving average is $90.65 and its two-hundred day moving average is $89.13.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is presently 84.13%.

Insider Activity at Colgate-Palmolive

In other news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the sale, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 175,191 shares of company stock valued at $16,110,903 over the last ninety days. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds have recently modified their holdings of CL. Security National Bank of Sioux City Iowa IA lifted its stake in Colgate-Palmolive by 37.5% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 22,198 shares of the company’s stock valued at $2,035,000 after buying an additional 6,052 shares in the last quarter. Reynders McVeigh Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 1,193.5% during the second quarter. Reynders McVeigh Capital Management LLC now owns 104,914 shares of the company’s stock valued at $9,619,000 after acquiring an additional 96,803 shares during the period. Cherry Tree Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 7,840.0% during the second quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock valued at $36,000 after acquiring an additional 392 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Colgate-Palmolive by 5.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 67,984 shares of the company’s stock valued at $6,233,000 after acquiring an additional 3,211 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Colgate-Palmolive by 2.5% in the 2nd quarter. Tidal Investments LLC now owns 144,375 shares of the company’s stock worth $13,236,000 after purchasing an additional 3,539 shares during the period. 80.41% of the stock is owned by hedge funds and other 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 products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.