TD Cowen Issues Pessimistic Forecast for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its price target reduced by investment analysts at TD Cowen from $90.00 to $86.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 6.30% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Barclays reduced their price objective on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 4th. Raymond James Financial decreased their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Piper Sandler set a $88.00 price objective on shares of Colgate-Palmolive and gave the stock an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research note on Friday, October 10th. Finally, Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.19.

Colgate-Palmolive Trading Up 4.9%

CL stock traded up $3.81 during midday trading on Thursday, hitting $80.90. The stock had a trading volume of 4,178,713 shares, compared to its average volume of 6,537,750. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The firm has a market cap of $65.21 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 5.23 and a beta of 0.30. The business has a fifty day moving average price of $78.54 and a two-hundred day moving average price of $82.05. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the company posted $0.91 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds have recently made changes to their positions in the business. Cidel Asset Management Inc. boosted its stake in shares of Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after acquiring an additional 39,413 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Colgate-Palmolive by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after purchasing an additional 16,017 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Colgate-Palmolive by 18.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after purchasing an additional 4,738 shares during the period. Vanguard Group Inc. grew its holdings in Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after buying an additional 993,432 shares in the last quarter. Finally, Welch Group LLC raised its position in shares of Colgate-Palmolive by 1.5% during the second quarter. Welch Group LLC now owns 665,041 shares of the company’s stock valued at $60,452,000 after buying an additional 9,689 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.