Colgate-Palmolive (NYSE:CL) Price Target Cut to $91.00 by Analysts at The Goldman Sachs Group

Key Points

• Goldman Sachs has cut its price target for Colgate-Palmolive from $106.00 to $91.00 but maintains a "buy" rating, indicating a potential upside of 15.78% from the previous close.
• Several other analysts have also reduced their targets, with Wells Fargo setting an "underweight" rating and targeting $80.00, while Barclays and JPMorgan have adjusted their targets to $82.00 and $95.00, respectively.
• Colgate-Palmolive's stock is currently trading at $78.60, reflecting a market cap of $63.53 billion and a current consensus rating of "Moderate Buy" among analysts.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target dropped by analysts at The Goldman Sachs Group from $106.00 to $91.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 15.78% from the stock's previous close.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a research report on Thursday, September 25th. Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Citigroup reduced their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Finally, UBS Group reduced their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.75.

Colgate-Palmolive Price Performance

NYSE CL traded down $0.41 on Thursday, reaching $78.60. The company's stock had a trading volume of 2,598,098 shares, compared to its average volume of 5,239,724. The firm has a market cap of $63.53 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 4.16 and a beta of 0.34. The business has a 50-day moving average price of $83.69 and a 200 day moving average price of $88.50. Colgate-Palmolive has a 52 week low of $78.34 and a 52 week high of $102.61. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC increased its position in Colgate-Palmolive by 4.5% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 24,240 shares of the company's stock worth $1,938,000 after buying an additional 1,034 shares during the period. American National Bank of Texas bought a new position in Colgate-Palmolive during the 3rd quarter worth $246,000. Praxis Investment Management Inc. increased its position in Colgate-Palmolive by 36.9% during the 3rd quarter. Praxis Investment Management Inc. now owns 40,830 shares of the company's stock worth $3,264,000 after buying an additional 11,013 shares during the period. Corient Private Wealth LLC increased its position in Colgate-Palmolive by 0.6% during the 2nd quarter. Corient Private Wealth LLC now owns 535,573 shares of the company's stock worth $48,684,000 after buying an additional 3,346 shares during the period. Finally, Caldwell Trust Co bought a new position in Colgate-Palmolive during the 2nd quarter worth $1,056,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Company Profile

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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