Colgate-Palmolive (NYSE:CL) Price Target Lowered to $83.00 at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its price objective trimmed by Wells Fargo & Company from $92.00 to $83.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research firms have also weighed in on CL. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their target price for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Piper Sandler cut their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, TD Cowen lowered their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.16.

Colgate-Palmolive Trading Down 0.3 %

CL opened at $87.31 on Tuesday. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market capitalization of $71.33 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 3.31 and a beta of 0.44. The business has a fifty day moving average price of $93.03 and a 200 day moving average price of $98.31. Colgate-Palmolive has a 12 month low of $79.69 and a 12 month high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Institutional Trading of Colgate-Palmolive

Hedge funds have recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive during the third quarter worth about $42,000. Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $53,000. Prospera Private Wealth LLC purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $64,000. True Wealth Design LLC lifted its holdings in shares of Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after buying an additional 672 shares during the period. Finally, Continuum Advisory LLC boosted its stake in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after buying an additional 368 shares in the last quarter. Institutional investors and hedge funds 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.