JPMorgan Chase & Co. Cuts Colgate-Palmolive (NYSE:CL) Price Target to $103.00

Colgate-Palmolive (NYSE:CL) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $109.00 to $103.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 17.18% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Piper Sandler decreased their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $103.05.

Colgate-Palmolive Trading Up 0.3 %

Shares of CL opened at $87.90 on Thursday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The company has a market cap of $71.82 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.01 and a beta of 0.44. The stock has a fifty day moving average price of $92.36 and a two-hundred day moving average price of $97.92. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30.

Insiders Place Their Bets

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 stock was 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 directly 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 this link. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Gordian Advisors LLC bought a new stake in Colgate-Palmolive in the 3rd quarter valued at $602,000. Carrera Capital Advisors raised its stake in shares of Colgate-Palmolive by 23.1% in the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Colgate-Palmolive by 224.6% in the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after purchasing an additional 550,750 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Colgate-Palmolive by 10.9% during the third quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after buying an additional 32,624 shares during the period. Finally, Fiduciary Alliance LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $4,066,000. Institutional investors and hedge funds 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.