Barclays Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price lowered by investment analysts at Barclays from $96.00 to $83.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential downside of 6.72% from the stock’s previous close.

CL has been the subject of a number of other research reports. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.42.

Colgate-Palmolive Stock Up 0.5 %

CL traded up $0.42 on Friday, reaching $88.98. The company’s stock had a trading volume of 1,001,031 shares, compared to its average volume of 4,633,988. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a 1 year low of $79.69 and a 1 year high of $109.30. The business’s 50 day moving average is $92.32 and its 200 day moving average is $97.85. The stock has a market cap of $72.69 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its holdings in Colgate-Palmolive by 16.2% during the second quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company’s stock worth $44,585,000 after purchasing an additional 64,123 shares in the last quarter. Edgestream Partners L.P. raised its stake in shares of Colgate-Palmolive by 13.9% in the 2nd quarter. Edgestream Partners L.P. now owns 19,864 shares of the company’s stock worth $1,928,000 after buying an additional 2,423 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Colgate-Palmolive by 2.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 126,759 shares of the company’s stock worth $12,301,000 after buying an additional 2,541 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Colgate-Palmolive in the second quarter valued at $423,000. Finally, Brighton Jones LLC boosted its stake in Colgate-Palmolive by 49.4% during the second quarter. Brighton Jones LLC now owns 10,308 shares of the company’s stock valued at $1,000,000 after buying an additional 3,410 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

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.