Piper Sandler Cuts Colgate-Palmolive (NYSE:CL) Price Target to $95.00

Colgate-Palmolive (NYSE:CL) had its price objective cut by Piper Sandler from $98.00 to $95.00 in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen upped their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Finally, Barclays raised their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.94.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $85.92 on Monday. Colgate-Palmolive has a one year low of $74.54 and a one year high of $99.33. The business has a fifty day moving average price of $90.46 and a 200-day moving average price of $89.03. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The firm has a market capitalization of $68.49 billion, a P/E ratio of 34.09, a PEG ratio of 4.06 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Insider Activity

In other news, CEO Noel Wallace sold 161,021 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after buying an additional 46,476,510 shares in the last quarter. Geode Capital Management LLC boosted its stake in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after buying an additional 304,426 shares in the last quarter. Bank of New York Mellon Corp grew its position in Colgate-Palmolive by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after acquiring an additional 1,010,872 shares during the last quarter. Norges Bank bought a new position in Colgate-Palmolive during the fourth quarter valued at approximately $861,670,000. Finally, Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.