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

Colgate-Palmolive (NYSE:CL) had its price target reduced by equities research analysts at Piper Sandler from $96.00 to $92.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 8.25% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Bank of America increased their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Evercore increased their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. TD Cowen reissued a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Finally, Royal Bank Of Canada raised Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Tuesday, December 9th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.25.

Colgate-Palmolive Trading Up 2.2%

Shares of NYSE:CL traded up $1.86 during midday trading on Wednesday, reaching $84.99. The company had a trading volume of 1,177,002 shares, compared to its average volume of 6,902,207. 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 1-year low of $74.54 and a 1-year high of $99.33. The firm has a market cap of $68.19 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 3.91 and a beta of 0.34. The company has a fifty day simple moving average of $91.03 and a two-hundred day simple moving average of $83.50.

Colgate-Palmolive (NYSE:CL) last released 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 return on equity of 353.72% and a net margin of 10.45%.The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the company posted $0.91 EPS. Colgate-Palmolive’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Panagiotis Tsourapas sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the sale, the chief operating officer directly owned 10,415 shares of the company’s stock, valued at $1,018,691.15. This trade represents a 59.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 184,683 shares of company stock valued at $17,486,693 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. TD Capital Management LLC raised its stake in shares of 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 purchasing an additional 124 shares in the last quarter. Triumph Capital Management raised its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth about $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

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.