Colgate-Palmolive (NYSE:CL) Price Target Lowered to $83.00 at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its price target trimmed by Wells Fargo & Company from $92.00 to $83.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an underweight rating on the stock.

CL has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. TD Cowen lowered their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, Piper Sandler cut their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $104.16.

Colgate-Palmolive Price Performance

CL stock opened at $87.31 on Tuesday. The company has a market cap of $71.33 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 3.31 and a beta of 0.44. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The firm has a 50 day moving average of $93.03 and a 200-day moving average of $98.31. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.29%. Colgate-Palmolive’s payout ratio is 57.31%.

Insiders Place Their Bets

In other 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 transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive during the 3rd quarter worth $53,000. Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at $64,000. True Wealth Design LLC raised its position in Colgate-Palmolive by 1,460.9% in the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares during the period. Finally, Continuum Advisory LLC lifted its stake in shares of Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

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.