Piper Sandler Cuts Colgate-Palmolive (NYSE:CL) Price Target to $107.00

Colgate-Palmolive (NYSE:CL) had its target price cut by Piper Sandler from $108.00 to $107.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

CL has been the subject of a number of other research reports. UBS Group dropped their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Barclays increased their price objective on Colgate-Palmolive from $83.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 27th. Wells Fargo & Company cut their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $102.06.

Colgate-Palmolive Price Performance

CL stock opened at $93.65 on Monday. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The stock has a market cap of $75.96 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a 50 day simple moving average of $90.03 and a 200 day simple moving average of $93.36.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the prior year, the business posted $0.87 EPS. Research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a $0.52 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 59.09%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in Colgate-Palmolive during the 4th quarter valued at $27,000. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive during the 4th quarter worth $31,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth $32,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $32,000. 80.41% of the stock is owned by 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.