Colgate-Palmolive (NYSE:CL) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Colgate-Palmolive (NYSE:CL) from a buy rating to a hold rating in a research note published on Thursday.

Several other research firms have also recently commented on CL. TD Cowen cut their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company reduced their price target 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 research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $103.63.

Colgate-Palmolive Stock Performance

CL opened at $86.38 on Thursday. The company has a market capitalization of $70.57 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 3.31 and a beta of 0.44. The business’s 50-day moving average price is $92.62 and its two-hundred day moving average price is $98.06. Colgate-Palmolive has a 1 year low of $79.69 and a 1 year 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.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

A number of large investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its holdings in shares of Colgate-Palmolive by 2.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 10,709 shares of the company’s stock worth $1,039,000 after acquiring an additional 221 shares during the period. MGO One Seven LLC raised its position in Colgate-Palmolive by 17.5% during the second quarter. MGO One Seven LLC now owns 9,066 shares of the company’s stock valued at $880,000 after purchasing an additional 1,348 shares in the last quarter. LPL Financial LLC lifted its stake in Colgate-Palmolive by 4.6% during the second quarter. LPL Financial LLC now owns 666,793 shares of the company’s stock worth $64,706,000 after purchasing an additional 29,494 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in Colgate-Palmolive by 0.7% during the second quarter. Bahl & Gaynor Inc. now owns 20,361 shares of the company’s stock worth $1,976,000 after purchasing an additional 144 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in shares of Colgate-Palmolive by 272.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 268,493 shares of the company’s stock valued at $26,054,000 after purchasing an additional 196,498 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

About Colgate-Palmolive

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.