Bank of America Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its price target cut by research analysts at Bank of America from $102.00 to $100.00 in a report released on Friday. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 13.39% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Citigroup boosted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. TD Cowen raised their price objective on Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, Piper Sandler dropped their price objective on Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, September 21st. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.11.

Colgate-Palmolive Stock Up 0.1%

Shares of NYSE:CL opened at $88.19 on Friday. The company has a 50 day moving average of $89.10 and a two-hundred day moving average of $88.77. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company has a market capitalization of $70.31 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 4.11 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, analysts forecast that Colgate-Palmolive will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. The trade was a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 175,191 shares of company stock worth $16,110,903. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently made changes to their positions in the company. Cooper Financial Group increased its stake in Colgate-Palmolive by 4.0% during the second quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after purchasing an additional 114 shares during the last quarter. Gould Capital LLC lifted its position in shares of Colgate-Palmolive by 38.7% in the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after buying an additional 115 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Colgate-Palmolive by 2.8% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock valued at $397,000 after buying an additional 118 shares during the period. SVB Wealth LLC boosted its holdings in shares of Colgate-Palmolive by 1.4% in the 2nd quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock valued at $804,000 after buying an additional 119 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in shares of Colgate-Palmolive by 32.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 486 shares of the company’s stock valued at $42,000 after buying an additional 120 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.