Colgate-Palmolive (CL) Price Target Cut to $60.00

Colgate-Palmolive (NYSE:CL) had its target price decreased by Morgan Stanley from $65.00 to $60.00 in a report published on Tuesday. Morgan Stanley currently has a hold rating on the stock.

Other research analysts have also issued reports about the stock. Argus reissued a buy rating and issued a $75.00 target price (up from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. UBS Group raised shares of Colgate-Palmolive from a neutral rating to a buy rating and raised their target price for the stock from $70.00 to $75.00 in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of Colgate-Palmolive from a sell rating to a hold rating in a research note on Tuesday, September 18th. Barclays set a $64.00 target price on shares of Colgate-Palmolive and gave the stock a hold rating in a research note on Monday, July 30th. Finally, Wells Fargo & Co reissued a hold rating and issued a $64.00 target price on shares of Colgate-Palmolive in a research note on Friday, July 27th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $68.06.

Shares of Colgate-Palmolive stock opened at $60.29 on Tuesday. The company has a debt-to-equity ratio of 64.85, a quick ratio of 0.28 and a current ratio of 1.11. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $77.91. The stock has a market capitalization of $51.65 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.93 and a beta of 0.75.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 26th. The company reported $0.72 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a net margin of 13.55% and a return on equity of 12,004.60%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company posted $0.73 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts forecast that Colgate-Palmolive will post 2.96 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.79%. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.

In related news, Vice Chairman Dennis J. Hickey sold 120,000 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $65.72, for a total value of $7,886,400.00. Following the completion of the sale, the insider now owns 202,414 shares in the company, valued at approximately $13,302,648.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Philip G. Shotts sold 17,000 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $65.44, for a total transaction of $1,112,480.00. Following the completion of the sale, the vice president now owns 49,949 shares of the company’s stock, valued at approximately $3,268,662.56. The disclosure for this sale can be found here. Insiders have sold a total of 169,585 shares of company stock valued at $11,132,140 in the last 90 days. Insiders own 1.02% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CL. CSat Investment Advisory L.P. acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $111,000. Bridgeworth LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $120,000. Price Capital Management Inc. acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at approximately $121,000. Fort L.P. acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $123,000. Finally, O Brien Wealth Partners LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at approximately $123,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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