Colgate-Palmolive (NYSE:CL) Downgraded by StockNews.com to “Hold”

Colgate-Palmolive (NYSE:CL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

CL has been the topic of a number of other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Barclays lowered their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. TD Cowen cut their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler reduced their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.72.

Colgate-Palmolive Stock Up 0.7 %

Shares of NYSE CL opened at $90.91 on Tuesday. The stock has a market cap of $73.78 billion, a PE ratio of 25.83, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a 50-day moving average of $89.40 and a 200 day moving average of $93.95.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the company earned $0.87 EPS. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has approved a stock repurchase program on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Colgate-Palmolive

Several large investors have recently modified their holdings of CL. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Colgate-Palmolive by 36.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company’s stock valued at $1,525,000 after buying an additional 3,960 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Colgate-Palmolive by 76.2% in the third quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock valued at $1,494,000 after purchasing an additional 6,224 shares during the period. Kingsview Wealth Management LLC grew its position in Colgate-Palmolive by 4.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 15,444 shares of the company’s stock valued at $1,603,000 after buying an additional 644 shares during the last quarter. Larson Financial Group LLC increased its stake in Colgate-Palmolive by 526.0% in the 3rd quarter. Larson Financial Group LLC now owns 795 shares of the company’s stock valued at $83,000 after buying an additional 668 shares during the period. Finally, Centaurus Financial Inc. raised its position in Colgate-Palmolive by 15.7% during the 3rd quarter. Centaurus Financial Inc. now owns 3,421 shares of the company’s stock worth $355,000 after buying an additional 464 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

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.