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

Colgate-Palmolive (NYSE:CL) had its target price decreased by Stifel Nicolaus from $101.00 to $95.00 in a research note released on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research firms have also issued reports on CL. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays cut their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.11.

Colgate-Palmolive Trading Up 0.3 %

Shares of Colgate-Palmolive stock opened at $88.79 on Friday. The stock has a market cap of $72.55 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.01 and a beta of 0.44. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30. The business’s 50 day moving average is $92.20 and its 200-day moving average is $97.75.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Colgate-Palmolive

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

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.