Citigroup Lowers Colgate-Palmolive (NYSE:CL) Price Target to $105.00

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 - Free Report) had its price objective cut by Citigroup from $108.00 to $105.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

CL has been the topic of several other research reports. Morgan Stanley set a $96.00 price target on Colgate-Palmolive and gave the stock an "overweight" rating in a research note on Monday. Barclays upped their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. UBS Group reduced their price target 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. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.92.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $0.17 on Monday, reaching $84.54. The stock had a trading volume of 1,219,531 shares, compared to its average volume of 5,258,996. The business's 50 day moving average is $88.92 and its two-hundred day moving average is $90.15. The company has a market cap of $68.32 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 4.40 and a beta of 0.35. Colgate-Palmolive has a 1 year low of $82.40 and a 1 year high of $109.30. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 6.79.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Impax Asset Management Group plc lifted its holdings in Colgate-Palmolive by 4.9% during the second quarter. Impax Asset Management Group plc now owns 251,640 shares of the company's stock valued at $22,874,000 after purchasing an additional 11,790 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Colgate-Palmolive by 3.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 122,082 shares of the company's stock valued at $11,097,000 after purchasing an additional 4,109 shares during the period. Maple Capital Management Inc. raised its position in shares of Colgate-Palmolive by 15.7% during the 2nd quarter. Maple Capital Management Inc. now owns 164,077 shares of the company's stock valued at $14,915,000 after purchasing an additional 22,207 shares during the period. denkapparat Operations GmbH lifted its stake in shares of Colgate-Palmolive by 63.1% during the 2nd quarter. denkapparat Operations GmbH now owns 6,682 shares of the company's stock valued at $607,000 after buying an additional 2,584 shares in the last quarter. Finally, Wealth Alliance LLC boosted its holdings in Colgate-Palmolive by 16.7% in the 2nd quarter. Wealth Alliance LLC now owns 4,838 shares of the company's stock worth $440,000 after buying an additional 691 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

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.