Raymond James Financial Cuts Colgate-Palmolive (NYSE:CL) Price Target to $95.00

Colgate-Palmolive (NYSE:CL) had its price objective cut by Raymond James Financial from $105.00 to $95.00 in a report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the company. Piper Sandler began coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Morgan Stanley reduced their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. The Goldman Sachs Group cut their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Wells Fargo & Company cut their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Finally, Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Colgate-Palmolive Trading Up 1.6%

Shares of CL stock opened at $79.86 on Monday. The firm has a market capitalization of $64.54 billion, a P/E ratio of 22.43, a P/E/G ratio of 4.61 and a beta of 0.34. Colgate-Palmolive has a twelve month low of $76.68 and a twelve month high of $100.18. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock’s fifty day simple moving average is $81.59 and its 200 day simple moving average is $87.08.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is currently 58.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC raised its stake in Colgate-Palmolive by 7.3% during the 3rd quarter. CoreCap Advisors LLC now owns 12,162 shares of the company’s stock worth $972,000 after buying an additional 826 shares during the period. Greenleaf Trust raised its stake in Colgate-Palmolive by 15.0% during the 3rd quarter. Greenleaf Trust now owns 34,128 shares of the company’s stock worth $2,728,000 after buying an additional 4,459 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Colgate-Palmolive by 1.9% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 23,327 shares of the company’s stock worth $1,865,000 after buying an additional 433 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Colgate-Palmolive by 3.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,283,059 shares of the company’s stock worth $182,508,000 after buying an additional 72,504 shares during the period. Finally, Bigelow Investment Advisors LLC raised its stake in Colgate-Palmolive by 6.0% during the 3rd quarter. Bigelow Investment Advisors LLC now owns 9,488 shares of the company’s stock worth $758,000 after buying an additional 533 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

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.