Wells Fargo & Company Lowers Colgate-Palmolive (NYSE:CL) Price Target to $83.00

Colgate-Palmolive (NYSE:CL) had its target price cut by research analysts at Wells Fargo & Company from $92.00 to $83.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 5.70% from the stock’s previous close.

Several other equities research analysts also recently commented on CL. Piper Sandler cut their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the company from $105.00 to $101.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.16.

Colgate-Palmolive Stock Up 0.5 %

CL traded up $0.48 on Tuesday, hitting $88.02. 549,710 shares of the company were exchanged, compared to its average volume of 3,190,932. The stock’s fifty day moving average is $93.18 and its 200-day moving average is $98.38. Colgate-Palmolive has a 12 month low of $79.69 and a 12 month high of $109.30. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The company has a market cap of $71.91 billion, a PE ratio of 25.22, a PEG ratio of 3.31 and a beta of 0.44.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after acquiring an additional 1,784,411 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 2.8% during the third quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock valued at $2,095,325,000 after purchasing an additional 552,949 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Colgate-Palmolive by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after purchasing an additional 557,492 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after buying an additional 61,413 shares during the period. Finally, Barclays PLC raised its holdings in Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the last quarter. 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.