JPMorgan Chase & Co. Cuts Colgate-Palmolive (NYSE:CL) Price Target to $103.00

Colgate-Palmolive (NYSE:CL) had its price target lowered by JPMorgan Chase & Co. from $109.00 to $103.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

CL has been the subject of several other reports. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Piper Sandler cut their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, TD Cowen dropped their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive Stock Up 0.3 %

CL stock opened at $88.79 on Thursday. Colgate-Palmolive has a fifty-two week low of $79.69 and a fifty-two week high of $109.30. The company’s 50 day moving average price is $92.20 and its 200 day moving average price is $97.74. 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 firm has a market capitalization of $72.55 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.01 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

The business also recently declared 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. This represents a $2.00 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insiders Place Their Bets

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. 0.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Apeiron RIA LLC boosted its holdings in Colgate-Palmolive by 5.1% in the 4th quarter. Apeiron RIA LLC now owns 7,745 shares of the company’s stock valued at $704,000 after purchasing an additional 379 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $291,000. Wesbanco Bank Inc. boosted its stake in shares of Colgate-Palmolive by 1.7% in the fourth quarter. Wesbanco Bank Inc. now owns 15,066 shares of the company’s stock valued at $1,370,000 after buying an additional 250 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Colgate-Palmolive by 2.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 387,487 shares of the company’s stock worth $35,227,000 after acquiring an additional 8,293 shares during the period. Finally, Atomi Financial Group Inc. raised its position in Colgate-Palmolive by 6.5% in the fourth quarter. Atomi Financial Group Inc. now owns 6,489 shares of the company’s stock worth $590,000 after acquiring an additional 394 shares in the last quarter. 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.