UBS Group Cuts Colgate-Palmolive (NYSE:CL) Price Target to $98.00

Colgate-Palmolive (NYSE:CL) had its price target cut by UBS Group from $100.00 to $98.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 17.59% from the stock’s previous close.

Several other research analysts have also weighed in on CL. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a report on Sunday, February 1st. Deutsche Bank Aktiengesellschaft raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $98.00 in a report on Monday, March 30th. Rothschild & Co Redburn set a $93.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 13th. Piper Sandler boosted their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $95.50.

Colgate-Palmolive Stock Down 1.4%

Shares of Colgate-Palmolive stock traded down $1.19 during trading hours on Tuesday, hitting $83.34. 2,500,483 shares of the company’s stock traded hands, compared to its average volume of 6,949,671. The stock has a 50 day simple moving average of $91.08 and a 200-day simple moving average of $83.49. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The company has a market cap of $66.87 billion, a PE ratio of 31.79, a PEG ratio of 3.91 and a beta of 0.34. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. The trade was a 59.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sally Massey sold 15,851 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the sale, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last three months. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CL. Norges Bank purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $861,670,000. Northwestern Mutual Wealth Management Co. grew its position in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $236,682,000. Deutsche Bank AG grew its position in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Colgate-Palmolive by 3,052.2% during the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock valued at $215,602,000 after purchasing an additional 2,611,485 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.