Colgate-Palmolive (NYSE:CL) Stock Price Target Cut by Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its price target cut by stock analysts at Wells Fargo & Company from $95.00 to $90.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 3.17% from the stock’s previous close.

Several other equities analysts have also commented on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Morgan Stanley restated an “overweight” rating and set a $104.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Piper Sandler lowered their price objective on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. Barclays increased their target price on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.65.

Colgate-Palmolive Trading Up 1.2%

NYSE CL opened at $87.23 on Monday. Colgate-Palmolive has a one year low of $74.54 and a one year high of $99.33. The company has a 50-day simple moving average of $89.36 and a 200-day simple moving average of $88.74. 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 firm has a market capitalization of $69.54 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 4.02 and a beta of 0.33.

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 the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. Colgate-Palmolive’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Insider Activity at Colgate-Palmolive

In other news, Director John T. Cahill sold 4,170 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last three months. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Colgate-Palmolive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cooper Financial Group grew 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 acquiring an additional 114 shares during the period. Gould Capital LLC lifted its holdings in Colgate-Palmolive by 38.7% in the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in Colgate-Palmolive by 2.8% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock worth $397,000 after purchasing an additional 118 shares in the last quarter. SVB Wealth LLC grew its stake in shares of Colgate-Palmolive by 1.4% during the 2nd quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock worth $804,000 after purchasing an additional 119 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in shares of Colgate-Palmolive by 32.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 486 shares of the company’s stock worth $42,000 after purchasing an additional 120 shares during the period. Institutional investors own 80.41% of the company’s stock.

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.