Colgate-Palmolive (NYSE:CL – Get Free Report) had its target price lowered by research analysts at Piper Sandler from $98.00 to $95.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 9.17% from the stock’s previous close.
Several other equities analysts have also commented on the company. UBS Group raised their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Finally, Jefferies Financial Group restated a “hold” rating on shares of Colgate-Palmolive in a report on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.94.
View Our Latest Stock Report on CL
Colgate-Palmolive Stock Up 0.9%
Colgate-Palmolive (NYSE:CL – Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. As a group, analysts forecast that Colgate-Palmolive will post 3.87 earnings per share for the current fiscal year.
Insider Transactions at Colgate-Palmolive
In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the sale, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. The trade was a 13.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the sale, the chief executive officer directly owned 362,231 shares of the company’s stock, 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. Insiders have sold a total of 175,191 shares of company stock worth $16,110,903 in the last ninety days. Insiders own 0.43% 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 CL. Flputnam Investment Management Co. lifted its stake in shares of Colgate-Palmolive by 7.4% during the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock worth $15,881,000 after purchasing an additional 13,804 shares during the last quarter. Brandywine Financial Group grew its stake in Colgate-Palmolive by 35,612.3% in the first quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after purchasing an additional 72,649 shares during the last quarter. SEB Asset Management AB purchased a new position in Colgate-Palmolive in the first quarter valued at about $91,149,000. Bank of America Corp DE bought a new position in Colgate-Palmolive in the second quarter worth about $567,483,000. Finally, Corient Private Wealth LP lifted its position in shares of Colgate-Palmolive by 29.0% during the second quarter. Corient Private Wealth LP now owns 639,604 shares of the company’s stock valued at $58,639,000 after buying an additional 143,812 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other 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 products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.
The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.
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