Wells Fargo & Company Cuts Colgate-Palmolive (NYSE:CL) Price Target to $77.00

Colgate-Palmolive (NYSE:CL) had its target price cut by Wells Fargo & Company from $80.00 to $77.00 in a research report report published on Monday morning,Benzinga reports. They currently have an underweight rating on the stock.

CL has been the subject of several other research reports. Raymond James Financial lowered their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Barclays dropped their target price on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Bank of America reduced their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Trading Up 0.5%

CL opened at $76.91 on Monday. The stock has a 50-day moving average of $79.96 and a 200 day moving average of $85.94. The company has a current ratio of 0.89, a quick ratio of 0.57 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. The firm has a market cap of $62.16 billion, a P/E ratio of 21.60, a P/E/G ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors have recently bought and sold shares of CL. Brighton Jones LLC raised its position in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Colgate-Palmolive in the first quarter valued at about $69,000. World Investment Advisors raised its holdings in Colgate-Palmolive by 24.1% in the first quarter. World Investment Advisors now owns 11,769 shares of the company’s stock worth $1,103,000 after purchasing an additional 2,282 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Colgate-Palmolive by 98.7% during the first quarter. Concurrent Investment Advisors LLC now owns 22,408 shares of the company’s stock valued at $2,100,000 after buying an additional 11,131 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after buying an additional 8,515 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Company Profile

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.