Colgate-Palmolive (NYSE:CL) PT Lowered to $71.00 at Barclays

Colgate-Palmolive (NYSE:CLGet Rating) had its target price lowered by research analysts at Barclays from $77.00 to $71.00 in a research note issued to investors on Monday, The Fly reports. Barclays‘s price target suggests a potential downside of 5.50% from the company’s previous close.

Several other research firms have also commented on CL. Morgan Stanley upped their target price on Colgate-Palmolive from $90.00 to $91.00 and gave the company an “equal weight” rating in a report on Monday, January 31st. Atlantic Securities downgraded Colgate-Palmolive from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $80.00 in a research report on Tuesday, May 3rd. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $82.00 price objective for the company. in a research report on Monday, May 2nd. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Finally, Credit Suisse Group reduced their price objective on Colgate-Palmolive from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, January 31st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.19.

NYSE:CL opened at $75.13 on Monday. The firm has a market capitalization of $62.95 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 5.02 and a beta of 0.56. The stock has a 50 day moving average of $77.51 and a 200-day moving average of $79.16. Colgate-Palmolive has a 52 week low of $72.20 and a 52 week high of $85.61. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 10.42.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its earnings results on Friday, April 29th. The company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.40 billion. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.08 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has initiated a stock buyback plan on Thursday, March 10th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

In other Colgate-Palmolive news, VP Philip G. Shotts sold 10,000 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $78.52, for a total transaction of $785,200.00. Following the sale, the vice president now directly owns 46,094 shares of the company’s stock, valued at approximately $3,619,300.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John W. Kooyman sold 19,683 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $78.49, for a total transaction of $1,544,918.67. Following the sale, the insider now directly owns 7,007 shares in the company, valued at $549,979.43. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. HighTower Advisors LLC increased its stake in shares of Colgate-Palmolive by 84.5% in the third quarter. HighTower Advisors LLC now owns 677,875 shares of the company’s stock worth $51,249,000 after acquiring an additional 310,455 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Colgate-Palmolive by 79.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 263,523 shares of the company’s stock worth $22,489,000 after acquiring an additional 116,999 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Colgate-Palmolive by 5.1% in the fourth quarter. Capital Investment Advisors LLC now owns 9,282 shares of the company’s stock worth $792,000 after acquiring an additional 452 shares during the last quarter. CWM LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $23,277,000. Finally, Bank of Nova Scotia increased its stake in shares of Colgate-Palmolive by 92.8% in the third quarter. Bank of Nova Scotia now owns 367,557 shares of the company’s stock worth $27,781,000 after acquiring an additional 176,924 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors.

About Colgate-Palmolive (Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

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