Bank of America Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

Colgate-Palmolive (NYSE:CL) had its price objective reduced by Bank of America from $105.00 to $102.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 18.58% from the company’s previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley raised their price target on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. UBS Group cut their price objective on Colgate-Palmolive from $100.00 to $98.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group raised their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price target on Colgate-Palmolive in a research note on Friday, February 13th. Finally, Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.25.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $86.02 on Friday. The stock has a market capitalization of $69.01 billion, a P/E ratio of 32.83, a P/E/G ratio of 3.94 and a beta of 0.34. The company’s fifty day moving average price is $91.06 and its 200 day moving average price is $83.53. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Sally Massey sold 15,851 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the transaction, the insider directly owned 13,751 shares in the company, valued at $1,306,757.53. The trade was a 53.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CL. HighPoint Advisor Group LLC grew its holdings in shares of Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after purchasing an additional 109 shares during the period. Clear Harbor Asset Management LLC raised its stake in Colgate-Palmolive by 2.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after purchasing an additional 113 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Colgate-Palmolive by 0.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock valued at $1,225,000 after purchasing an additional 114 shares during the last quarter. Sunpointe LLC grew its stake in shares of Colgate-Palmolive by 4.0% in the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock valued at $241,000 after buying an additional 117 shares during the period. Finally, TD Capital Management LLC grew its stake in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

About Colgate-Palmolive

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.