Colgate-Palmolive (NYSE:CL) Price Target Cut to $95.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Colgate-Palmolive from $99.00 to $95.00, while maintaining an "overweight" rating on the stock.
• Colgate-Palmolive's stock recently traded down 0.2%, reaching $83.33 with a consensus rating of "Hold" and a consensus price target of $99.17.
• Several analysts have recently issued varied ratings on Colgate-Palmolive, indicating a mix of sentiment with one sell rating, five hold ratings, and seven buy ratings among research analysts.

Colgate-Palmolive (NYSE:CL - Free Report) had its price objective reduced by JPMorgan Chase & Co. from $99.00 to $95.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

CL has been the subject of a number of other research reports. Morgan Stanley set a $96.00 price objective on Colgate-Palmolive and gave the company an "overweight" rating in a research note on Monday. UBS Group dropped their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Citigroup increased their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Hold" and an average price target of $98.92.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded up $1.65 on Monday, reaching $84.71. The stock had a trading volume of 2,612,694 shares, compared to its average volume of 5,275,358. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 6.79. The business's 50 day moving average is $89.22 and its two-hundred day moving average is $90.22. The company has a market cap of $68.46 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 4.29 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 posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The company 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%. Colgate-Palmolive's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, research analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Andra AP fonden raised its holdings in Colgate-Palmolive by 1.8% during the 2nd quarter. Andra AP fonden now owns 251,385 shares of the company's stock valued at $22,851,000 after buying an additional 4,400 shares during the period. Brooktree Capital Management purchased a new stake in Colgate-Palmolive in the second quarter worth $259,000. Resona Asset Management Co. Ltd. increased its stake in Colgate-Palmolive by 9.5% in the second quarter. Resona Asset Management Co. Ltd. now owns 359,539 shares of the company's stock worth $32,548,000 after purchasing an additional 31,076 shares during the period. Atlantic Union Bankshares Corp increased its stake in Colgate-Palmolive by 67.3% in the second quarter. Atlantic Union Bankshares Corp now owns 20,755 shares of the company's stock worth $1,887,000 after purchasing an additional 8,352 shares during the period. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in Colgate-Palmolive in the second quarter worth $454,000. 80.41% of the stock is currently owned by 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.