Morgan Stanley Cuts Colgate-Palmolive (NYSE:CL) Price Target to $104.00

Colgate-Palmolive (NYSE:CL) had its target price reduced by equities researchers at Morgan Stanley from $111.00 to $104.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 20.04% from the stock’s previous close.

A number of other research analysts also recently commented on CL. Piper Sandler dropped their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. UBS Group lowered their target price on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus lowered their target price on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research note on Friday, January 17th. Finally, Barclays lowered their target price on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $101.61.

Colgate-Palmolive Stock Down 4.7 %

CL stock opened at $86.64 on Monday. The company has a market cap of $70.78 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 3.61 and a beta of 0.44. The business has a 50-day simple moving average of $91.35 and a 200 day simple moving average of $97.15. Colgate-Palmolive has a 52 week low of $82.68 and a 52 week high of $109.30. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the prior year, the firm earned $0.87 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive will post 3.74 EPS for the current fiscal year.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Institutional Trading of Colgate-Palmolive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Colgate-Palmolive by 3.8% in the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after buying an additional 1,784,411 shares in the last quarter. Geode Capital Management LLC boosted its stake in Colgate-Palmolive by 2.8% during the 3rd 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock valued at $988,997,000 after purchasing an additional 557,492 shares during the last quarter. Barclays PLC boosted its stake in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Finally, FMR LLC boosted its stake in Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after purchasing an additional 2,674,807 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

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.