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

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

Several other analysts have also weighed in on the company. TD Cowen reduced their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the stock from $107.00 to $109.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Stock Down 0.4 %

NYSE CL opened at $90.15 on Wednesday. The business has a fifty day moving average price of $93.46 and a two-hundred day moving average price of $98.46. The stock has a market capitalization of $73.65 billion, a PE ratio of 25.83, a PEG ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a fifty-two week low of $79.52 and a fifty-two 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.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s 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 owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Colgate-Palmolive

A number of institutional investors and hedge funds have recently modified their holdings of CL. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP bought a new position in Colgate-Palmolive in the third quarter worth approximately $53,000. Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive in the third quarter valued at approximately $64,000. True Wealth Design LLC increased its holdings in shares of Colgate-Palmolive by 1,460.9% during the third 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 raised its position in shares of Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares during the period. 80.41% of the stock is currently 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.