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

Colgate-Palmolive (NYSE:CL) had its price target dropped by Barclays from $96.00 to $83.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 6.53% from the company’s previous close.

CL has been the topic of several other research reports. UBS Group cut their target price on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. TD Cowen reduced their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.11.

Colgate-Palmolive Trading Up 0.3 %

NYSE:CL opened at $88.79 on Friday. Colgate-Palmolive has a one year low of $79.69 and a one year high of $109.30. The company has a market cap of $72.55 billion, a PE ratio of 25.44, a PEG ratio of 3.01 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The firm has a 50-day moving average of $92.20 and a 200-day moving average of $97.74.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Institutional Trading of Colgate-Palmolive

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

Colgate-Palmolive Company Profile

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.