Colgate-Palmolive (NYSE:CL) Sets New 52-Week Low - What's Next?

Key Points

• Colgate-Palmolive shares hit a new 52-week low of $78.34, with a last trading price of $78.62 and a volume of 566,720 shares, down from a previous close of $79.01.
• Several analysts have cut their price targets for Colgate-Palmolive, with Morgan Stanley adjusting its target from $104.00 to $96.00, and the consensus rating currently at "Moderate Buy" with an average price target of $97.27.
• The company announced a quarterly dividend of $0.52, which will be paid on November 14th, and has a current dividend yield of 2.6%.

Colgate-Palmolive Company (NYSE:CL - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $78.34 and last traded at $78.62, with a volume of 566720 shares trading hands. The stock had previously closed at $79.01.

Analysts Set New Price Targets

CL has been the subject of a number of recent research reports. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a research report on Thursday, September 25th. UBS Group reduced their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, Barclays cut 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 note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $97.27.

Colgate-Palmolive Trading Down 0.2%

The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The business's fifty day simple moving average is $83.69 and its two-hundred day simple moving average is $88.50. The company has a market cap of $63.75 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 4.16 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period last year, the business earned $0.91 EPS. Colgate-Palmolive's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive's payout ratio is presently 58.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Westend Capital Management LLC increased its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares during the period. Westside Investment Management Inc. grew its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company's stock worth $26,000 after buying an additional 130 shares during the period. Cornerstone Planning Group LLC grew its holdings in shares of Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the period. Saudi Central Bank acquired a new stake in shares of Colgate-Palmolive in the 1st quarter worth approximately $29,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in shares of Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company's stock worth $30,000 after acquiring an additional 155 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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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