Wells Fargo & Company Cuts Colgate-Palmolive (NYSE:CL) Price Target to $92.00

Colgate-Palmolive (NYSE:CL) had its price target decreased by Wells Fargo & Company from $100.00 to $92.00 in a research note issued to investors on Monday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Other equities analysts have also issued reports about the stock. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. UBS Group raised their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Bank of America increased their price objective on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Finally, TD Cowen reduced their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.11.

Colgate-Palmolive Price Performance

CL opened at $93.67 on Monday. Colgate-Palmolive has a 12-month low of $73.97 and a 12-month high of $109.30. The company has a market cap of $76.53 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The stock has a fifty day simple moving average of $102.48 and a two-hundred day simple moving average of $98.14.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,490 shares of company stock worth $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Main Street Research LLC lifted its holdings in Colgate-Palmolive by 1.5% in the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after purchasing an additional 100 shares in the last quarter. Advisor OS LLC lifted its holdings in shares of Colgate-Palmolive by 4.5% in the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after buying an additional 101 shares in the last quarter. BLB&B Advisors LLC grew its stake in Colgate-Palmolive by 2.5% during the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after acquiring an additional 104 shares in the last quarter. ZWJ Investment Counsel Inc. increased its holdings in Colgate-Palmolive by 3.1% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after acquiring an additional 109 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in Colgate-Palmolive by 9.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock valued at $124,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

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.