Colgate-Palmolive (NYSE:CL) Upgraded 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 Wednesday.

A number of other research firms also recently issued reports on CL. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the company from $105.00 to $101.00 in a research report on Monday, October 28th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. Finally, TD Cowen decreased their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $90.15 on Wednesday. Colgate-Palmolive has a 52 week low of $79.52 and a 52 week high of $109.30. 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. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The stock’s fifty day moving average is $93.46 and its 200-day moving average is $98.46.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a 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 Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated Tuesday, November 5th. The shares were 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 approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds and other institutional investors have recently modified their holdings of the company. Gordian Advisors LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $602,000. Carrera Capital Advisors raised its holdings in Colgate-Palmolive by 23.1% in the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after acquiring an additional 7,353 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after acquiring an additional 550,750 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Colgate-Palmolive by 10.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after purchasing an additional 32,624 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the period. 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.