Piper Sandler Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Key Points

• Piper Sandler cut Colgate-Palmolive’s price target from $98 to $95 while maintaining an “overweight” rating, implying 8.57% upside from the stock’s $87.50 price. The analyst move is more cautious than the broader consensus “Moderate Buy” rating and $98.94 target.
• Colgate-Palmolive reported quarterly EPS of $0.99, exceeding estimates of $0.95, while revenue reached $5.36 billion and rose 4.9% year over year.
• Company insiders sold roughly $16.1 million worth of shares over the past 90 days, including substantial sales by the CEO and COO; institutional investors own 80.41% of the stock.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target cut by Piper Sandler from $98.00 to $95.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective suggests a potential upside of 8.57% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group reissued a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Barclays upped their price objective on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Weiss Ratings raised Colgate-Palmolive from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Sanford C. Bernstein reiterated a "market perform" rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Finally, UBS Group boosted their target price on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.94.

Colgate-Palmolive Price Performance

Shares of CL opened at $87.50 on Monday. The stock has a market cap of $69.75 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 4.08 and a beta of 0.33. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The stock's 50-day moving average price is $90.79 and its two-hundred day moving average price is $89.20. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly 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%.Colgate-Palmolive's revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. On average, equities analysts predict that Colgate-Palmolive will post 3.87 earnings per share for the current year.

Insider Activity at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 10,000 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company's stock, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Noel Wallace sold 161,021 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares of the company's stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its holdings in shares of Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock valued at $356,000 after purchasing an additional 113 shares during the period. Cooper Financial Group increased its holdings in Colgate-Palmolive by 4.0% during the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company's stock worth $270,000 after purchasing an additional 114 shares during the period. Gould Capital LLC increased its holdings in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the period. Redhawk Wealth Advisors Inc. raised its position in Colgate-Palmolive by 2.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company's stock valued at $397,000 after purchasing an additional 118 shares in the last quarter. Finally, SVB Wealth LLC lifted 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 worth $804,000 after buying an additional 119 shares during the period. Institutional investors own 80.41% of the company's stock.

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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