Barclays Cuts Colgate-Palmolive (NYSE:CL) Price Target to $80.00

Colgate-Palmolive (NYSE:CL) had its price target decreased by Barclays from $82.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 5.54% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Raymond James Financial cut their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 20th. UBS Group cut their price target on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday. The Goldman Sachs Group lowered their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Trading Up 1.1%

Shares of Colgate-Palmolive stock opened at $75.80 on Tuesday. The business has a fifty day simple moving average of $80.26 and a two-hundred day simple moving average of $86.14. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $100.18. The company has a market capitalization of $61.26 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 4.44 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CL. Brighton Jones LLC grew its position in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares during the last quarter. World Investment Advisors boosted its stake in shares of Colgate-Palmolive by 24.1% during the first quarter. World Investment Advisors now owns 11,769 shares of the company’s stock valued at $1,103,000 after purchasing an additional 2,282 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Colgate-Palmolive by 98.7% during the first quarter. Concurrent Investment Advisors LLC now owns 22,408 shares of the company’s stock valued at $2,100,000 after purchasing an additional 11,131 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after purchasing an additional 8,515 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Colgate-Palmolive by 24.6% during the first quarter. Envestnet Asset Management Inc. now owns 675,584 shares of the company’s stock valued at $63,302,000 after purchasing an additional 133,327 shares in the last quarter. 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.