Colgate-Palmolive Faces Downgrade as Financial Outlook Adjusts
Fintel reports that on October 28, 2024, Stifel downgraded their outlook for Colgate-Palmolive (XTRA:CPA) from Buy to Hold.
Analysts Predict Modest Price Growth
As of October 22, 2024, analysts have set an average one-year price target for Colgate-Palmolive at 100.96 €/share. The projections vary widely from a low of 83.51 € to a high of 117.68 €. This average suggests potential growth of 13.44% based on the company’s latest closing share price of 89.00 €.
Revenue and Earnings Projections
Colgate-Palmolive is projected to achieve annual revenue of 20.163 million euros, reflecting a slight increase of 0.28%. Furthermore, the expected annual non-GAAP earnings per share (EPS) stands at 3.51.
Insights from Institutional Holdings
As of now, 2,831 funds and institutions have positions in Colgate-Palmolive, marking an increase of 90 owners or 3.28% in just the last quarter. The average portfolio allocation of all funds for CPA is 0.34%, which shows a slight increase of 0.16%. Additionally, total institutional shares rose by 3.97% over the past three months, totaling 741,502,000 shares.
Price T Rowe Associates currently holds 38,253,000 shares, accounting for 4.68% of the company. This figure is a decrease from their previous holding of 41,067,000 shares, which is a drop of 7.36%. Their portfolio allocation for CPA has seen a reduction of 2.00% over the last quarter.
Meanwhile, Vanguard Total Stock Market Index Fund Investor Shares owns 25,854,000 shares, representing 3.16% ownership. This is a slight decline from 25,889,000 shares previously reported, translating to a decrease of 0.14%. However, their portfolio allocation in CPA increased by 4.65% last quarter.
Vanguard 500 Index Fund Investor Shares possesses 21,057,000 shares, making up 2.58% of Colgate-Palmolive. Their holdings reflect an increase from 20,749,000 shares, amounting to 1.46% growth. Their CPA portfolio allocation rose by 3.53% in the same period.
Geode Capital Management’s shareholding is 19,640,000 shares, or 2.40% ownership, which indicates an increase from 19,096,000 shares, marking a growth of 2.77%. Their allocation for CPA also went up by 5.20% in the last quarter.
In contrast, Wellington Management Group LLP’s stake has significantly decreased from 27,824,000 shares to 16,581,000 shares, a drop of 67.80%. They’ve cut their allocation for CPA by an alarming 90.88% recently.
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This story originally appeared on Fintel.
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