Bank of America Cuts Colgate-Palmolive (NYSE:CL) Price Target to $88.00

Colgate-Palmolive (NYSE:CL) had its target price trimmed by Bank of America from $98.00 to $88.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CL has been the topic of a number of other research reports. Morgan Stanley dropped their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Barclays cut their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Citigroup cut their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Finally, UBS Group cut their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Stock Up 0.2%

Shares of NYSE:CL opened at $77.99 on Wednesday. The company has a market capitalization of $63.03 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 4.28 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The business has a fifty day moving average price of $82.56 and a two-hundred day moving average price of $87.91. Colgate-Palmolive has a 1 year low of $77.09 and a 1 year high of $102.61.

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 analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Institutional Trading of Colgate-Palmolive

A number of institutional investors have recently added to or reduced their stakes in CL. Westend Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $29,000. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in shares of Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 155 shares in the last quarter. 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.