Colgate-Palmolive (NYSE:CL) Given Average Recommendation of “Moderate Buy” by Brokerages

Colgate-Palmolive (NYSE:CL) has been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $105.11.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the company from $105.00 to $101.00 in a report on Monday, October 28th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Finally, Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $96.60 on Friday. The stock has a market capitalization of $78.92 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 3.45 and a beta of 0.42. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30. The firm has a 50-day simple moving average of $97.38 and a 200-day simple moving average of $98.58. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insiders Place Their Bets

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 value of $4,273,535.10. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in Colgate-Palmolive by 263.2% during the 1st quarter. Advisors Asset Management Inc. now owns 27,126 shares of the company’s stock worth $2,443,000 after buying an additional 19,657 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Colgate-Palmolive by 4,847.3% in the first quarter. 1832 Asset Management L.P. now owns 9,301 shares of the company’s stock valued at $838,000 after purchasing an additional 9,113 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Colgate-Palmolive by 6.4% in the first quarter. Lazard Asset Management LLC now owns 957,259 shares of the company’s stock valued at $86,201,000 after purchasing an additional 57,165 shares in the last quarter. SVB Wealth LLC raised its holdings in Colgate-Palmolive by 2.7% during the first quarter. SVB Wealth LLC now owns 34,883 shares of the company’s stock worth $3,141,000 after purchasing an additional 920 shares in the last quarter. Finally, Paloma Partners Management Co lifted its position in shares of Colgate-Palmolive by 572.4% during the 1st quarter. Paloma Partners Management Co now owns 19,440 shares of the company’s stock worth $1,751,000 after buying an additional 16,549 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

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.