Colgate-Palmolive (NYSE:CL) Given New $80.00 Price Target at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its price target lowered by Wells Fargo & Company from $83.00 to $80.00 in a report issued on Thursday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other analysts have also weighed in on the stock. UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Citigroup decreased their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Barclays lifted their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.73.

Colgate-Palmolive Stock Down 1.8%

Shares of Colgate-Palmolive stock opened at $79.64 on Thursday. 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 company has a 50-day moving average of $84.34 and a 200 day moving average of $88.81. The firm has a market cap of $64.37 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 4.22 and a beta of 0.35. Colgate-Palmolive has a 1 year low of $78.76 and a 1 year high of $104.16.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.43%.

Institutional Trading of Colgate-Palmolive

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 1.2% in the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after acquiring an additional 993,432 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Norges Bank purchased a new position in shares of Colgate-Palmolive in the second quarter worth approximately $960,390,000. Goldman Sachs Group Inc. boosted its holdings in shares of Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after buying an additional 2,045,191 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Colgate-Palmolive by 9.1% in the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after buying an additional 621,841 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

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.