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

Colgate-Palmolive (NYSE:CL) had its target price lowered by equities researchers at Barclays from $96.00 to $83.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 6.72% from the company’s current price.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler dropped their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, UBS Group cut their target price on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.42.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded up $0.42 on Friday, hitting $88.98. The company’s stock had a trading volume of 1,001,031 shares, compared to its average volume of 4,633,988. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The firm has a fifty day moving average price of $92.32 and a 200-day moving average price of $97.85. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30. The company has a market capitalization of $72.69 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its holdings in Colgate-Palmolive by 16.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company’s stock valued at $44,585,000 after purchasing an additional 64,123 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Colgate-Palmolive by 13.9% in the second quarter. Edgestream Partners L.P. now owns 19,864 shares of the company’s stock valued at $1,928,000 after buying an additional 2,423 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Colgate-Palmolive by 2.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 126,759 shares of the company’s stock valued at $12,301,000 after buying an additional 2,541 shares during the period. XTX Topco Ltd purchased a new position in Colgate-Palmolive in the 2nd quarter worth approximately $423,000. Finally, Brighton Jones LLC grew its position in Colgate-Palmolive by 49.4% in the second quarter. Brighton Jones LLC now owns 10,308 shares of the company’s stock valued at $1,000,000 after acquiring an additional 3,410 shares in the last quarter. 80.41% of the stock is currently 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.