JPMorgan Chase & Co. Cuts Colgate-Palmolive (NYSE:CL) Price Target to $95.00

Key Points

• JPMorgan cut Colgate‑Palmolive's price target to $95 (from $97) while maintaining an "overweight" rating, implying roughly a 10.19% upside from the prior close.
• Analyst consensus remains mildly positive with an average target of $95.44 and 11 Buy vs. 6 Hold ratings, giving the stock a "Moderate Buy" average rating.
• Insiders have been net sellers recently — a total of 184,683 shares valued at about $17.49M were sold over the last 90 days, including large reductions by John Hazlin and COO Panagiotis Tsourapas.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $97.00 to $95.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 10.19% from the stock's previous close.

CL has been the subject of a number of other research reports. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Barclays cut their target price on shares of Colgate-Palmolive from $88.00 to $79.00 and set an "equal weight" rating for the company in a research report on Tuesday. Evercore increased their target price on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, February 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $100.00 target price on shares of Colgate-Palmolive in a research report on Friday, February 20th. Finally, Jefferies Financial Group lifted their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the company a "hold" rating in a report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and an average target price of $95.44.

Colgate-Palmolive Stock Up 3.1%

NYSE:CL traded up $2.59 during trading hours on Friday, hitting $86.21. 2,047,146 shares of the company traded hands, compared to its average volume of 6,754,982. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The firm's 50-day simple moving average is $90.16 and its 200-day simple moving average is $83.67. Colgate-Palmolive has a one year low of $74.54 and a one year high of $99.33. The company has a market cap of $69.17 billion, a PE ratio of 32.91, a PEG ratio of 4.15 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. Equities analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Insider Activity

In other news, insider John Hazlin sold 20,989 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider directly owned 17,645 shares in the company, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares of the company's stock, valued at $985,363.15. The trade was a 77.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 184,683 shares of company stock valued at $17,486,693 over the last ninety days. 0.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hanson & Doremus Investment Management grew its holdings in shares of Colgate-Palmolive by 18.0% during the first quarter. Hanson & Doremus Investment Management now owns 7,809 shares of the company's stock worth $666,000 after purchasing an additional 1,190 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of Colgate-Palmolive by 0.7% during the first quarter. Brookstone Capital Management now owns 159,919 shares of the company's stock worth $13,630,000 after purchasing an additional 1,189 shares in the last quarter. Smith Salley Wealth Management grew its holdings in shares of Colgate-Palmolive by 7.7% during the first quarter. Smith Salley Wealth Management now owns 125,425 shares of the company's stock worth $10,690,000 after purchasing an additional 8,959 shares in the last quarter. Evolve Private Wealth LLC boosted its stake in Colgate-Palmolive by 2.5% in the first quarter. Evolve Private Wealth LLC now owns 7,657 shares of the company's stock worth $653,000 after buying an additional 189 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Colgate-Palmolive in the first quarter worth approximately $229,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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