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

Key Points

• Citigroup has lowered its target price for Colgate-Palmolive from $108 to $105, while maintaining a "buy" rating, indicating a potential upside of 25.88% from the previous close.
• Colgate-Palmolive's stock is currently trading at $83.41, having reached a one-year low of $82.40 and a high of $109.30.
• Institutional investors own 80.41% of Colgate-Palmolive's shares, with several significant purchases noted in recent months.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its target price lowered by equities researchers at Citigroup from $108.00 to $105.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 25.88% from the company's previous close.

A number of other equities research analysts have also commented on CL. Barclays increased their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Morgan Stanley decreased their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a report on Monday. Wells Fargo & Company cut their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday. UBS Group lowered their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus target price of $98.92.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded down $0.10 during trading on Monday, reaching $83.41. The company's stock had a trading volume of 3,084,394 shares, compared to its average volume of 5,269,173. Colgate-Palmolive has a one year low of $82.40 and a one year high of $109.30. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.28 and a current ratio of 0.43. The firm has a market cap of $67.60 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 4.31 and a beta of 0.35. The business's fifty day moving average price is $89.59 and its 200-day moving average price is $90.31.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business's revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

A number of institutional investors have recently made changes to their positions in the company. Westend Capital Management LLC grew its holdings in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank acquired a new stake in Colgate-Palmolive during the first quarter worth about $29,000. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive in the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $33,000. Institutional investors own 80.41% of the company's stock.

About Colgate-Palmolive

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.

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