TD Cowen Lowers Colgate-Palmolive (NYSE:CL) Price Target to $100.00

Colgate-Palmolive (NYSE:CL) had its price objective lowered by TD Cowen from $110.00 to $100.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CL has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company cut their price objective 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. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Piper Sandler cut their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $105.00 to $101.00 in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.63.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $86.38 on Wednesday. The stock’s 50-day moving average price is $92.62 and its 200 day moving average price is $98.07. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The stock has a market capitalization of $70.57 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was 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 directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth $42,000. Capital Performance Advisors LLP purchased a new position in Colgate-Palmolive during the third quarter worth about $53,000. Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter worth about $64,000. True Wealth Design LLC grew its holdings in Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after buying an additional 672 shares during the period. Finally, Continuum Advisory LLC grew its holdings in Colgate-Palmolive by 93.4% in the 3rd quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after buying an additional 368 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.