Colgate-Palmolive (NYSE:CL) Upgraded 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 report report published on Thursday.

Several other brokerages also recently commented on CL. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price objective for the company from $107.00 to $109.00 in a research report on Monday, September 9th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Finally, TD Cowen cut their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $93.56 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a twelve month low of $75.17 and a twelve month high of $109.30. The company’s 50-day moving average price is $99.31 and its 200-day moving average price is $98.54. The company has a market cap of $76.44 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 16.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $4,273,535.10. Following 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 disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

A number of institutional investors have recently bought and sold shares of the business. Kingsview Wealth Management LLC boosted its stake in shares of Colgate-Palmolive by 10.0% in the first quarter. Kingsview Wealth Management LLC now owns 14,088 shares of the company’s stock worth $1,269,000 after buying an additional 1,285 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Colgate-Palmolive by 32.8% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,635 shares of the company’s stock worth $327,000 after purchasing an additional 898 shares during the period. 1ST Source Bank acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $201,000. Motco lifted its stake in shares of Colgate-Palmolive by 16.5% in the 1st quarter. Motco now owns 6,016 shares of the company’s stock valued at $542,000 after purchasing an additional 853 shares during the period. Finally, Banco Santander S.A. lifted its stake in shares of Colgate-Palmolive by 77.5% in the 1st quarter. Banco Santander S.A. now owns 19,319 shares of the company’s stock valued at $1,740,000 after purchasing an additional 8,436 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

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.