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

Colgate-Palmolive (NYSE:CL) had its price objective decreased by Citigroup from $68.00 to $63.00 in a report issued on Monday morning. Citigroup currently has a hold rating on the stock.

Several other research analysts have also commented on CL. Zacks Investment Research lowered Colgate-Palmolive from a hold rating to a sell rating in a research report on Monday, July 2nd. Wells Fargo & Co lowered Colgate-Palmolive to a hold rating in a research report on Tuesday, July 17th. UBS Group upgraded Colgate-Palmolive from a neutral rating to a buy rating and raised their price target for the stock from $70.00 to $75.00 in a research report on Wednesday, July 18th. Stifel Nicolaus lowered their price target on Colgate-Palmolive from $75.00 to $73.00 and set a hold rating for the company in a research report on Monday, July 23rd. Finally, Macquarie lowered Colgate-Palmolive from an outperform rating to a neutral rating and lowered their price target for the stock from $74.00 to $65.00 in a research report on Monday, July 30th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $68.50.

Shares of CL traded up $1.10 during midday trading on Monday, hitting $58.99. 2,514,092 shares of the stock were exchanged, compared to its average volume of 4,610,937. Colgate-Palmolive has a 52-week low of $57.41 and a 52-week high of $77.91. The firm has a market cap of $51.70 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.73 and a beta of 0.72. The company has a quick ratio of 0.28, a current ratio of 0.40 and a debt-to-equity ratio of 64.85.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 26th. The company reported $0.72 EPS for the quarter, hitting the 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 during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business posted $0.73 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Sell-side analysts expect that Colgate-Palmolive will post 2.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be issued 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 2.85%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.54%.

In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 1,015 shares of Colgate-Palmolive stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $68,055.75. Following the completion of the sale, the chief financial officer now directly owns 36,193 shares of the company’s stock, valued at approximately $2,426,740.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip G. Shotts sold 462 shares of Colgate-Palmolive stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $30,977.10. Following the sale, the vice president now directly owns 41,250 shares of the company’s stock, valued at $2,765,812.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 395,779 shares of company stock valued at $26,108,856. 1.02% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CSat Investment Advisory L.P. acquired a new stake in shares of Colgate-Palmolive during the second quarter worth about $111,000. Bridgeworth LLC acquired a new position in Colgate-Palmolive in the 2nd quarter valued at about $120,000. Price Capital Management Inc. acquired a new position in Colgate-Palmolive in the 3rd quarter valued at about $121,000. Fort L.P. acquired a new position in Colgate-Palmolive in the 2nd quarter valued at about $123,000. Finally, O Brien Wealth Partners LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at about $123,000. 75.17% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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