Colgate-Palmolive (NYSE:CL) Price Target Cut to $86.00 by Analysts at TD Cowen

Colgate-Palmolive (NYSE:CL) had its target price trimmed by TD Cowen from $90.00 to $86.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research note on Friday, October 10th. UBS Group reduced their price target on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Tuesday, December 9th. Evercore ISI cut their target price on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, Wells Fargo & Company decreased their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Monday, November 3rd. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $88.19.

Colgate-Palmolive Stock Performance

CL opened at $80.85 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The business’s 50 day moving average is $78.63 and its 200-day moving average is $82.04. The stock has a market cap of $65.17 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 5.22 and a beta of 0.30. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. On average, analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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 valued at $7,522,129,000 after purchasing an additional 993,432 shares in the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive in the 2nd quarter worth about $960,390,000. Invesco Ltd. boosted its position in Colgate-Palmolive by 13.1% during the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock worth $676,931,000 after acquiring an additional 978,943 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after acquiring an additional 2,572,796 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Colgate-Palmolive by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock valued at $517,167,000 after purchasing an additional 314,584 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.