StockNews.com Upgrades Colgate-Palmolive (NYSE:CL) to Buy

StockNews.com upgraded shares of Colgate-Palmolive (NYSE:CL) from a hold rating to a buy rating in a research report report published on Tuesday.

CL has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. TD Cowen dropped their target price on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $92.39 on Tuesday. Colgate-Palmolive has a 52-week low of $78.29 and a 52-week high of $109.30. 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 stock has a fifty day moving average price of $94.85 and a two-hundred day moving average price of $98.67. The firm has a market capitalization of $75.48 billion, a P/E ratio of 26.47, a P/E/G ratio of 3.31 and a beta of 0.43.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.16%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Institutional Trading of Colgate-Palmolive

Hedge funds have recently bought and sold shares of the stock. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the third quarter worth $42,000. Capital Performance Advisors LLP acquired a new position in shares of Colgate-Palmolive during the third quarter worth about $53,000. Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at approximately $64,000. True Wealth Design LLC lifted its stake in Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after acquiring an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Colgate-Palmolive by 93.4% during the 3rd quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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.