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 issued to investors on Monday morning.

Several other equities research analysts also recently issued reports on the company. Piper Sandler began coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. Sanford C. Bernstein upped their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. One 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. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $95.34 on Monday. The firm has a market capitalization of $77.89 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30. The stock’s 50 day moving average price is $97.90 and its 200 day moving average price is $98.58. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.10%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction 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 directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is owned by company insiders.

Institutional Trading of Colgate-Palmolive

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its position in shares of Colgate-Palmolive by 351.0% in the third quarter. Tidal Investments LLC now owns 284,568 shares of the company’s stock worth $29,541,000 after acquiring an additional 221,469 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in Colgate-Palmolive by 125.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 51,333 shares of the company’s stock worth $5,329,000 after purchasing an additional 28,518 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Colgate-Palmolive during the 3rd quarter valued at $752,000. Sanctuary Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 13.7% in the third quarter. Sanctuary Advisors LLC now owns 111,271 shares of the company’s stock valued at $10,562,000 after purchasing an additional 13,434 shares in the last quarter. Finally, Fulcrum Equity Management grew its holdings in shares of Colgate-Palmolive by 3.0% during the third quarter. Fulcrum Equity Management now owns 5,280 shares of the company’s stock valued at $548,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.