Citigroup Cuts Colgate-Palmolive (CL) Price Target to $63.00

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Colgate-Palmolive (NYSE:CL) had its price objective reduced by Citigroup from $68.00 to $63.00 in a research note issued to investors on Monday morning. They currently have a hold rating on the stock.

Several other brokerages have also weighed in on CL. Zacks Investment Research lowered Colgate-Palmolive from a hold rating to a sell rating in a report on Friday, October 5th. Wells Fargo & Co lowered their price objective on Colgate-Palmolive from $64.00 to $62.00 and set a market perform rating for the company in a report on Wednesday, October 17th. SunTrust Banks lowered Colgate-Palmolive from a buy rating to a hold rating and lowered their price objective for the company from $80.00 to $65.00 in a report on Friday, October 26th. JPMorgan Chase & Co. lowered Colgate-Palmolive from a neutral rating to an underweight rating and lowered their price objective for the company from $61.00 to $54.00 in a report on Monday. Finally, Stifel Nicolaus lowered their price objective on Colgate-Palmolive from $75.00 to $73.00 and set a hold rating for the company in a report on Monday, July 23rd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $68.06.

Shares of NYSE CL opened at $59.55 on Monday. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $77.91. The stock has a market cap of $52.20 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 2.96 and a beta of 0.72. The company has a debt-to-equity ratio of 64.85, a quick ratio of 0.28 and a current ratio of 1.11.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 26th. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive will post 2.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a yield of 2.82%. Colgate-Palmolive’s payout ratio is currently 58.54%.

In other Colgate-Palmolive news, VP Philip G. Shotts sold 462 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $30,977.10. Following the completion of the transaction, the vice president now directly owns 41,250 shares in the company, valued at $2,765,812.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mukul Deoras sold 11,334 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $65.10, for a total value of $737,843.40. Following the completion of the transaction, the insider now owns 32,625 shares of the company’s stock, valued at $2,123,887.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,585 shares of company stock valued at $11,132,140. 1.02% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of CL. Robeco Institutional Asset Management B.V. boosted its position in shares of Colgate-Palmolive by 2.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,230,898 shares of the company’s stock worth $82,408,000 after buying an additional 26,574 shares during the period. Hikari Power Ltd boosted its position in shares of Colgate-Palmolive by 16.3% during the third quarter. Hikari Power Ltd now owns 134,590 shares of the company’s stock worth $9,011,000 after buying an additional 18,890 shares during the period. Dubuque Bank & Trust Co. boosted its position in shares of Colgate-Palmolive by 22.1% during the third quarter. Dubuque Bank & Trust Co. now owns 5,470 shares of the company’s stock worth $366,000 after buying an additional 991 shares during the period. Ramsay Stattman Vela & Price Inc. boosted its position in shares of Colgate-Palmolive by 1.3% during the third quarter. Ramsay Stattman Vela & Price Inc. now owns 92,319 shares of the company’s stock worth $6,181,000 after buying an additional 1,211 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Colgate-Palmolive by 8.7% during the third quarter. Acadian Asset Management LLC now owns 2,228,950 shares of the company’s stock worth $149,225,000 after buying an additional 178,645 shares during the period. Institutional investors own 75.17% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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