Colgate-Palmolive (NYSE:CL) Price Target Lowered to $91.00 at The Goldman Sachs Group

Colgate-Palmolive (NYSE:CL) had its price target cut by The Goldman Sachs Group from $106.00 to $91.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also weighed in on CL. Citigroup lowered their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. UBS Group lowered their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Finally, Barclays lowered their target price on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.75.

Colgate-Palmolive Trading Down 0.9%

NYSE:CL opened at $78.30 on Thursday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive has a one year low of $78.18 and a one year high of $102.61. The business’s 50-day simple moving average is $83.49 and its 200 day simple moving average is $88.41. The stock has a market cap of $63.28 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.43%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares in the last quarter. NBC Securities Inc. boosted its position in shares of Colgate-Palmolive by 112,160.0% during the 1st quarter. NBC Securities Inc. now owns 5,613 shares of the company’s stock worth $525,000 after acquiring an additional 5,608 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Colgate-Palmolive by 13.6% during the 1st quarter. Merit Financial Group LLC now owns 34,809 shares of the company’s stock worth $3,262,000 after acquiring an additional 4,169 shares in the last quarter. RFG Advisory LLC boosted its position in shares of Colgate-Palmolive by 85.6% during the 1st quarter. RFG Advisory LLC now owns 9,104 shares of the company’s stock worth $853,000 after acquiring an additional 4,199 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Colgate-Palmolive by 1.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 21,699 shares of the company’s stock worth $2,033,000 after acquiring an additional 357 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

About Colgate-Palmolive

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.