Colgate-Palmolive (NYSE:CL) Price Target Lowered to $102.00 at Bank of America

Key Points

• Bank of America lowered its price target on Colgate-Palmolive from $105 to $102 while keeping a "buy" rating, which the firm says implies roughly an 18.6% upside from the current share price.
• Colgate-Palmolive reported a solid quarter—$0.95 EPS vs. $0.91 expected and revenue of $5.23B (up 5.8% YoY)—and the stock carries a consensus rating of Moderate Buy with a consensus target of $95.25.
• Insiders have been net sellers, disposing of 184,683 shares worth about $17.49M in the past 90 days (insiders now hold 0.34% of shares), including sizable sales by the CFO and another executive.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target lowered by stock analysts at Bank of America from $105.00 to $102.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 18.58% from the company's current price.

Several other analysts have also commented on the company. UBS Group decreased their price objective on Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday. Barclays upped their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 3rd. Argus reissued a "hold" rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Citigroup boosted their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.25.

Colgate-Palmolive Stock Up 0.5%

Shares of Colgate-Palmolive stock opened at $86.02 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The company has a market cap of $69.01 billion, a P/E ratio of 32.83, a PEG ratio of 3.94 and a beta of 0.34. The firm's 50 day moving average price is $91.06 and its 200-day moving average price is $83.53. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion during the quarter, compared to analysts' expectations of $5.13 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Colgate-Palmolive's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 15,851 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the transaction, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. This represents a 53.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the transaction, the chief financial officer directly owned 55,310 shares of the company's stock, valued at $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Colgate-Palmolive

Several hedge funds have recently added to or reduced their stakes in CL. ProShare Advisors LLC boosted its holdings in Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company's stock worth $163,681,000 after buying an additional 202,379 shares in the last quarter. Providence Capital Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter worth about $5,373,000. Asset Management One Co. Ltd. grew its position in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company's stock valued at $33,758,000 after acquiring an additional 16,017 shares during the period. Citigroup Inc. increased its stake in shares of Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company's stock valued at $107,646,000 after purchasing an additional 409,710 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Colgate-Palmolive by 248.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company's stock valued at $6,909,000 after purchasing an additional 62,327 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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