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

Colgate-Palmolive (NYSE:CL) had its price target lowered by equities research analysts at Piper Sandler from $108.00 to $107.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 15.39% from the company’s previous close.

Several other research firms have also recently weighed in on CL. Barclays raised their price objective on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday. Morgan Stanley reduced their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus reduced their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.78.

Colgate-Palmolive Trading Down 0.5 %

Shares of Colgate-Palmolive stock opened at $92.73 on Monday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The stock has a market capitalization of $75.25 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a 50-day simple moving average of $89.69 and a 200 day simple moving average of $93.52. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) 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 period in the prior year, the business posted $0.87 earnings per share. Research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Colgate-Palmolive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its holdings in shares of Colgate-Palmolive by 4.6% in the 3rd quarter. Captrust Financial Advisors now owns 112,489 shares of the company’s stock valued at $11,677,000 after buying an additional 4,995 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Colgate-Palmolive in the third quarter valued at $15,932,000. Kestra Investment Management LLC bought a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $1,079,000. Benjamin Edwards Inc. increased its stake in shares of Colgate-Palmolive by 10,946.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,157 shares of the company’s stock worth $11,020,000 after purchasing an additional 105,196 shares during the last quarter. Finally, Ascent Group LLC increased its stake in shares of Colgate-Palmolive by 3.1% during the 3rd quarter. Ascent Group LLC now owns 14,457 shares of the company’s stock worth $1,501,000 after purchasing an additional 435 shares during the last quarter. Institutional investors 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.