Wells Fargo & Company Has Lowered Expectations for Colgate-Palmolive (NYSE:CL) Stock Price

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

Other equities research analysts have also issued reports about the company. Sanford C. Bernstein increased their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. UBS Group boosted their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, Barclays boosted their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One equities research 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’s stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $105.11.

Colgate-Palmolive Stock Performance

Shares of CL opened at $93.67 on Monday. The firm has a market capitalization of $76.53 billion, a P/E ratio of 26.84, a P/E/G ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $73.97 and a 52 week high of $109.30. The stock has a 50 day moving average price of $102.48 and a two-hundred day moving average price of $98.14. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive Dividend Announcement

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

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated 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 $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the sale, the insider now owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,490 shares of company stock valued at $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Colgate-Palmolive by 27.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after acquiring an additional 2,593,313 shares during the period. Legal & General Group Plc grew its holdings in shares of Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd boosted its holdings in shares of Colgate-Palmolive by 4.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after purchasing an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after buying an additional 2,955,442 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.