Piper Sandler Lowers Colgate-Palmolive (NYSE:CL) Price Target to $92.00

Colgate-Palmolive (NYSE:CL) had its target price dropped by research analysts at Piper Sandler from $96.00 to $92.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 6.95% from the stock’s previous close.

A number of other research firms have also issued reports on CL. Bank of America boosted their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $86.00 to $94.00 and gave the company an “equal weight” rating in a research note on Sunday, February 1st. The Goldman Sachs Group restated a “buy” rating and issued a $100.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 20th. Jefferies Financial Group upped their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, TD Cowen restated a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.13.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $86.02 on Wednesday. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $69.01 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 3.94 and a beta of 0.34. The business’s fifty day moving average is $91.06 and its 200 day moving average is $83.53.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Insiders Place Their Bets

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 35,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $985,363.15. This represents a 77.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider owned 17,645 shares in the company, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last 90 days. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors have recently modified their holdings of CL. HighPoint Advisor Group LLC grew its position in Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after acquiring an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after acquiring an additional 113 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in Colgate-Palmolive by 0.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after acquiring an additional 114 shares during the last quarter. Sunpointe LLC grew its position in Colgate-Palmolive by 4.0% during the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock worth $241,000 after acquiring an additional 117 shares during the last quarter. Finally, TD Capital Management LLC grew its position in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

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.