Colgate-Palmolive (NYSE:CL) Price Target Cut to $87.00 by Analysts at JPMorgan Chase & Co.

Colgate-Palmolive (NYSE:CL) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $88.00 to $87.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 15.07% from the stock’s previous close.

A number of other brokerages have also weighed in on CL. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective on the stock. Barclays cut their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Monday. Finally, Morgan Stanley set a $87.00 price target on Colgate-Palmolive and gave the stock an “overweight” rating in a research report on Monday. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.80.

Colgate-Palmolive Trading Down 1.9%

Shares of CL stock traded down $1.45 during trading hours on Monday, hitting $75.60. The company had a trading volume of 3,648,797 shares, compared to its average volume of 5,410,491. The stock has a market capitalization of $61.10 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 4.44 and a beta of 0.34. Colgate-Palmolive has a fifty-two week low of $74.62 and a fifty-two week high of $100.18. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The company’s fifty day moving average is $80.45 and its 200 day moving average is $86.28.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. grew its holdings in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the period. Cornerstone Planning Group LLC grew its holdings in Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares during the last quarter. Saudi Central Bank acquired a new stake in Colgate-Palmolive in the 1st quarter valued at about $29,000. Copia Wealth Management acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at about $29,000. Finally, Vermillion & White Wealth Management Group LLC grew its stake in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 155 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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.