JPMorgan Chase & Co. Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

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 trimmed by JPMorgan Chase & Co. from $99.00 to $95.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on CL. UBS Group decreased 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. Wells Fargo & Company lowered their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday. Morgan Stanley set a $96.00 price target on shares of Colgate-Palmolive and gave the stock an "overweight" rating in a report on Monday. Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $98.92.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded down $0.36 during midday trading on Monday, reaching $84.35. The company had a trading volume of 1,020,423 shares, compared to its average volume of 5,258,156. The stock has a market cap of $68.17 billion, a P/E ratio of 23.71, a P/E/G ratio of 4.40 and a beta of 0.35. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 6.79. Colgate-Palmolive has a 52-week low of $82.40 and a 52-week high of $109.30. The company's 50 day moving average price is $88.92 and its 200 day moving average price is $90.15.

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 firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The business's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds have recently made changes to their positions in CL. Westend Capital Management LLC raised its holdings in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company's stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares during the period. Saudi Central Bank bought a new stake in Colgate-Palmolive during the first quarter worth about $29,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $31,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

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.