Barclays Cuts Colgate-Palmolive (NYSE:CL) Price Target to $80.00

Colgate-Palmolive (NYSE:CL) had its price target dropped by equities research analysts at Barclays from $82.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 5.54% from the company’s current price.

Several other analysts have also recently weighed in on CL. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Bank of America dropped their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Evercore ISI dropped their price objective on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday. Finally, Morgan Stanley dropped their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Stock Up 1.1%

Shares of NYSE CL opened at $75.80 on Tuesday. The firm’s 50-day simple moving average is $80.26 and its 200 day simple moving average is $86.14. The company has a market cap of $61.26 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 4.44 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colgate-Palmolive

A number of large investors have recently bought and sold shares of the company. Howard Capital Management Inc. boosted its position in Colgate-Palmolive by 2.6% during the 3rd quarter. Howard Capital Management Inc. now owns 5,857 shares of the company’s stock worth $468,000 after acquiring an additional 150 shares during the last quarter. OneAscent Investment Solutions LLC boosted its holdings in shares of Colgate-Palmolive by 11.8% in the 3rd quarter. OneAscent Investment Solutions LLC now owns 4,009 shares of the company’s stock valued at $320,000 after buying an additional 424 shares during the last quarter. National Pension Service boosted its holdings in shares of Colgate-Palmolive by 3.5% in the 3rd quarter. National Pension Service now owns 2,109,555 shares of the company’s stock valued at $168,638,000 after buying an additional 70,502 shares during the last quarter. Winnow Wealth LLC boosted its holdings in shares of Colgate-Palmolive by 4,796.5% in the 3rd quarter. Winnow Wealth LLC now owns 12,731 shares of the company’s stock valued at $1,018,000 after buying an additional 12,471 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of Colgate-Palmolive by 158.4% in the 3rd quarter. AlphaQuest LLC now owns 7,276 shares of the company’s stock valued at $582,000 after buying an additional 4,460 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.