Morgan Stanley Lowers Colgate-Palmolive (NYSE:CL) Price Target to $104.00

Colgate-Palmolive (NYSE:CL) had its price objective decreased by Morgan Stanley from $111.00 to $104.00 in a research report sent to investors on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also commented on CL. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Barclays lowered their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. One research 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, Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $101.16.

Colgate-Palmolive Trading Up 0.2 %

Shares of CL opened at $86.66 on Monday. Colgate-Palmolive has a 12-month low of $82.68 and a 12-month high of $109.30. The firm has a market capitalization of $70.80 billion, a P/E ratio of 24.62, a P/E/G ratio of 3.61 and a beta of 0.44. The firm has a 50-day moving average price of $90.98 and a 200 day moving average price of $96.99. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the business posted $0.87 earnings per share. Sell-side analysts forecast that Colgate-Palmolive will post 3.74 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 56.82%.

Institutional Investors Weigh In On Colgate-Palmolive

Institutional investors have recently modified their holdings of the company. Algert Global LLC boosted its holdings in shares of Colgate-Palmolive by 14.4% in the 2nd quarter. Algert Global LLC now owns 5,131 shares of the company’s stock valued at $498,000 after buying an additional 647 shares in the last quarter. Czech National Bank boosted its stake in Colgate-Palmolive by 6.5% in the third quarter. Czech National Bank now owns 166,449 shares of the company’s stock valued at $17,279,000 after acquiring an additional 10,106 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Colgate-Palmolive by 38.3% during the third quarter. Park Avenue Securities LLC now owns 10,705 shares of the company’s stock worth $1,111,000 after purchasing an additional 2,966 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Colgate-Palmolive by 32.4% during the third quarter. GAMMA Investing LLC now owns 10,952 shares of the company’s stock worth $1,137,000 after purchasing an additional 2,677 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 19.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 3,842 shares of the company’s stock valued at $399,000 after purchasing an additional 636 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

About Colgate-Palmolive

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.