Barclays Cuts Colgate-Palmolive (NYSE:CL) Price Target to $83.00

Colgate-Palmolive (NYSE:CL) had its price target decreased by Barclays from $96.00 to $83.00 in a research note published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages also recently issued reports on CL. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Piper Sandler dropped their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen dropped their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $105.00 to $101.00 in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $101.11.

Colgate-Palmolive Stock Up 0.3 %

Shares of NYSE CL opened at $88.79 on Friday. The business has a 50-day moving average price of $92.20 and a 200 day moving average price of $97.75. The stock has a market cap of $72.55 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.25%. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after buying an additional 2,674,807 shares during the last quarter. Barclays PLC boosted its position in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after acquiring an additional 2,132,747 shares during the last quarter. State Street Corp grew its holdings in Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares during the period. Nordea Investment Management AB increased its position in Colgate-Palmolive by 32.5% during the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company’s stock worth $462,121,000 after purchasing an additional 1,247,731 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Colgate-Palmolive by 58.6% during the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock worth $234,540,000 after purchasing an additional 892,706 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

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.