Colgate-Palmolive (NYSE:CL) Price Target Lowered to $83.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Colgate-Palmolive from $88.00 to $83.00, maintaining an "underweight" rating on the stock.
• In contrast, Citigroup recently increased its target price for the company from $103.00 to $108.00, giving it a "buy" rating.
• Colgate-Palmolive's stock is currently trading around $83.07 with a market capitalization of $67.32 billion and a price-to-earnings ratio of 23.31.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $88.00 to $83.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential downside of 0.08% from the company's current price.

Several other research firms have also weighed in on CL. Citigroup boosted their target price on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group lowered their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Barclays raised their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $100.17.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $0.45 on Monday, hitting $83.07. 1,053,167 shares of the company were exchanged, compared to its average volume of 5,253,654. The company has a quick ratio of 0.28, a current ratio of 0.43 and a debt-to-equity ratio of 8.96. The company has a 50-day moving average price of $89.59 and a 200 day moving average price of $90.31. The stock has a market capitalization of $67.32 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 4.31 and a beta of 0.35. Colgate-Palmolive has a 1-year low of $82.40 and a 1-year high of $109.30.

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

Institutional Trading of Colgate-Palmolive

A number of large investors have recently made changes to their positions in CL. World Investment Advisors boosted its holdings in Colgate-Palmolive by 11.6% in the second quarter. World Investment Advisors now owns 13,137 shares of the company's stock valued at $1,194,000 after purchasing an additional 1,368 shares in the last quarter. Quaker Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 188.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 4,869 shares of the company's stock worth $443,000 after buying an additional 10,373 shares during the last quarter. Bank of Jackson Hole Trust boosted its holdings in shares of Colgate-Palmolive by 21.9% in the 2nd quarter. Bank of Jackson Hole Trust now owns 1,197 shares of the company's stock valued at $109,000 after buying an additional 215 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. New York Life Investment Management LLC now owns 121,458 shares of the company's stock valued at $11,041,000 after buying an additional 1,330 shares during the last quarter. Finally, Howard Capital Management Inc. grew its position in shares of Colgate-Palmolive by 18.3% in the 2nd quarter. Howard Capital Management Inc. now owns 5,707 shares of the company's stock valued at $519,000 after buying an additional 881 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

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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