Colgate-Palmolive (NYSE:CL) Price Target Lowered to $83.00 at Wells Fargo & Company

Colgate-Palmolive (NYSE:CL) had its price objective reduced by research analysts at Wells Fargo & Company from $92.00 to $83.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 5.70% from the stock’s previous close.

Several other analysts have also recently commented on CL. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler cut 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. Finally, StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.16.

Colgate-Palmolive Trading Up 0.5 %

Shares of NYSE CL traded up $0.48 during trading on Tuesday, reaching $88.02. The company had a trading volume of 549,710 shares, compared to its average volume of 3,190,932. The stock has a market cap of $71.91 billion, a P/E ratio of 25.22, a PEG ratio of 3.31 and a beta of 0.44. The company’s fifty day moving average price is $93.18 and its 200-day moving average price is $98.38. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 12 month low of $79.69 and a 12 month high of $109.30.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction 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 transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Gordian Advisors LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter valued at about $602,000. Carrera Capital Advisors increased its position in shares of Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after acquiring an additional 7,353 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Colgate-Palmolive by 224.6% during the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after acquiring an additional 550,750 shares during the period. Handelsbanken Fonder AB boosted its position in Colgate-Palmolive by 10.9% in the third quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after purchasing an additional 32,624 shares during the last quarter. Finally, Barclays PLC grew its stake in Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the period. 80.41% of the stock is owned by institutional investors.

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.