Piper Sandler Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its target price cut by Piper Sandler from $121.00 to $112.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently weighed in on CL. JPMorgan Chase & Co. raised their target price on shares of 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 decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. TD Cowen decreased their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.63.

Colgate-Palmolive Stock Performance

Shares of CL opened at $87.39 on Monday. Colgate-Palmolive has a 1 year low of $79.69 and a 1 year high of $109.30. The stock has a market capitalization of $71.40 billion, a PE ratio of 25.04, a PEG ratio of 3.31 and a beta of 0.44. 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 stock has a 50-day simple moving average of $92.89 and a 200-day simple moving average of $98.23.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed 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 2.29%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction 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 approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Foundations Investment Advisors LLC purchased a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $225,000. Private Advisor Group LLC lifted its holdings in Colgate-Palmolive by 2.7% in the second quarter. Private Advisor Group LLC now owns 65,409 shares of the company’s stock valued at $6,347,000 after acquiring an additional 1,690 shares during the period. Savant Capital LLC lifted its holdings in Colgate-Palmolive by 11.8% in the second quarter. Savant Capital LLC now owns 38,587 shares of the company’s stock valued at $3,744,000 after acquiring an additional 4,085 shares during the period. Advisor OS LLC boosted its position in shares of Colgate-Palmolive by 4.5% during the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after purchasing an additional 101 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth $178,000. 80.41% of the stock is currently 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.