Colgate-Palmolive (NYSE:CL) Sets New 12-Month Low - Here's What Happened

Key Points

• Colgate-Palmolive's share price hit a new 52-week low of **$76.68**, down from a previous close of **$77.96**, with a significant trading volume of **5.76 million shares**.
• Analysts have set a consensus target price of **$92.21** for Colgate-Palmolive, with ratings varying from "Buy" to "Hold" among several institutions.
• The company announced a quarterly dividend of **$0.52 per share**, with an annualized yield of **2.7%** and a payout ratio of **58.43%**.

Colgate-Palmolive Company (NYSE:CL - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $76.68 and last traded at $76.99, with a volume of 5757419 shares changing hands. The stock had previously closed at $77.96.

Analyst Upgrades and Downgrades

Several analysts recently commented on CL shares. Barclays dropped their price target on Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. Weiss Ratings restated a "hold (c)" rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a report on Friday. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a "neutral" rating and a $84.00 price objective on the stock. Finally, UBS Group decreased their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price of $92.21.

Colgate-Palmolive Trading Down 1.2%

The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The company has a fifty day simple moving average of $82.44 and a 200-day simple moving average of $87.73. The company has a market capitalization of $62.22 billion, a PE ratio of 21.63, a PEG ratio of 4.29 and a beta of 0.34.

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. The company had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. Analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

Institutional Trading of Colgate-Palmolive

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company's stock worth $7,522,129,000 after purchasing an additional 993,432 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter worth about $960,390,000. Goldman Sachs Group Inc. increased its position in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after purchasing an additional 2,045,191 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Colgate-Palmolive by 9.1% during the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company's stock worth $680,755,000 after purchasing an additional 621,841 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.