JPMorgan Chase & Co. Lowers Colgate-Palmolive (NYSE:CL) Price Target to $103.00

Key Points

• JPMorgan lowered Colgate-Palmolive’s price target from $104 to $103 while maintaining an “overweight” rating, implying 12.76% upside from the prior close.
• Analyst sentiment remains favorable, with 12 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $98.71.
• Colgate-Palmolive exceeded quarterly EPS expectations, reporting $0.99 versus $0.95 expected, while revenue rose 4.9% year over year to $5.36 billion.

Colgate-Palmolive (NYSE:CL - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $104.00 to $103.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 12.76% from the company's previous close.

CL has been the subject of a number of other research reports. Citigroup boosted their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Sanford C. Bernstein assumed coverage on Colgate-Palmolive in a research note on Thursday, June 11th. They issued a "market perform" rating and a $96.00 price target on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Colgate-Palmolive in a research report on Friday. UBS Group reaffirmed a "buy" rating and issued a $109.00 target price on shares of Colgate-Palmolive in a research note on Monday. Finally, Piper Sandler boosted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average price target of $98.71.

Colgate-Palmolive Price Performance

NYSE CL traded up $0.04 during trading hours on Monday, reaching $91.34. The company's stock had a trading volume of 1,721,366 shares, compared to its average volume of 5,973,590. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33. The company's 50-day moving average is $90.97 and its two-hundred day moving average is $89.49. The company has a debt-to-equity ratio of 16.33, a current ratio of 0.45 and a quick ratio of 0.30. The firm has a market capitalization of $73.09 billion, a price-to-earnings ratio of 36.26, a P/E/G ratio of 4.80 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same period last year, the business earned $0.92 earnings per share. Colgate-Palmolive's revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive will post 3.82 EPS for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $861,670,000. Bank of New York Mellon Corp grew its holdings in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after buying an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new stake in Colgate-Palmolive in the 4th quarter valued at $236,682,000. Finally, Deutsche Bank AG increased its holdings in shares of Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the last quarter. 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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