Wells Fargo & Company Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its price target cut by stock analysts at Wells Fargo & Company from $92.00 to $83.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 5.02% from the stock’s previous close.

CL has been the subject of several other reports. Piper Sandler dropped their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen cut their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $101.00 in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price objective for the company from $107.00 to $109.00 in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $103.63.

Colgate-Palmolive Price Performance

Shares of CL opened at $87.39 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The stock has a market capitalization of $71.40 billion, a PE ratio of 25.04, a P/E/G ratio of 3.31 and a beta of 0.44. The firm’s 50 day moving average is $92.89 and its 200-day moving average is $98.23. Colgate-Palmolive has a 12 month low of $79.69 and a 12 month high of $109.30.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently bought and sold shares of CL. Northcape Capital Pty Ltd raised its position in shares of Colgate-Palmolive by 4.9% in the 4th quarter. Northcape Capital Pty Ltd now owns 6,012 shares of the company’s stock worth $547,000 after acquiring an additional 282 shares in the last quarter. Range Financial Group LLC increased its holdings in Colgate-Palmolive by 117.8% in the fourth quarter. Range Financial Group LLC now owns 10,436 shares of the company’s stock worth $949,000 after purchasing an additional 5,644 shares in the last quarter. Bath Savings Trust Co lifted its stake in Colgate-Palmolive by 2.9% in the fourth quarter. Bath Savings Trust Co now owns 58,137 shares of the company’s stock valued at $5,285,000 after buying an additional 1,655 shares during the period. Diversified Trust Co boosted its holdings in shares of Colgate-Palmolive by 2.6% during the 4th quarter. Diversified Trust Co now owns 83,360 shares of the company’s stock worth $7,578,000 after buying an additional 2,125 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. grew its position in shares of Colgate-Palmolive by 3.4% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 12,534 shares of the company’s stock worth $1,139,000 after buying an additional 412 shares during the period. 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.