JPMorgan Chase & Co. Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price cut by analysts at JPMorgan Chase & Co. from $97.00 to $95.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 10.69% from the company’s previous close.

CL has been the topic of a number of other research reports. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. Bank of America cut their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Jefferies Financial Group lifted their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average price target of $95.44.

Colgate-Palmolive Stock Performance

Shares of CL opened at $85.83 on Friday. 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 twelve month low of $74.54 and a twelve month high of $99.33. The firm’s 50 day moving average price is $89.99 and its two-hundred day moving average price is $83.74. The firm has a market cap of $68.86 billion, a P/E ratio of 32.76, a PEG ratio of 4.16 and a beta of 0.34.

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

Insider Buying and Selling at Colgate-Palmolive

In other news, insider Sally Massey sold 15,851 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the sale, the insider owned 13,751 shares of the company’s stock, valued at $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares in the company, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 184,683 shares of company stock worth $17,486,693. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Colgate-Palmolive

A number of institutional investors have recently made changes to their positions in the business. Faithward Advisors LLC lifted its position in shares of Colgate-Palmolive by 9.9% in the first quarter. Faithward Advisors LLC now owns 4,599 shares of the company’s stock worth $392,000 after purchasing an additional 416 shares in the last quarter. Cidel Asset Management Inc. increased its holdings in Colgate-Palmolive by 6.5% during the first quarter. Cidel Asset Management Inc. now owns 320,907 shares of the company’s stock worth $27,351,000 after buying an additional 19,720 shares during the last quarter. Coerente Capital Management increased its holdings in Colgate-Palmolive by 0.7% during the first quarter. Coerente Capital Management now owns 258,810 shares of the company’s stock worth $22,058,000 after buying an additional 1,796 shares during the last quarter. Essex Bank increased its holdings in Colgate-Palmolive by 1.8% during the first quarter. Essex Bank now owns 17,026 shares of the company’s stock worth $1,451,000 after buying an additional 305 shares during the last quarter. Finally, Webster Bank N. A. increased its holdings in Colgate-Palmolive by 20.8% during the first quarter. Webster Bank N. A. now owns 1,277 shares of the company’s stock worth $109,000 after buying an additional 220 shares during the last quarter. 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.