Colgate-Palmolive (NYSE:CL) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of Colgate-Palmolive (NYSE:CL) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $121.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Hsbc Global Res cut Colgate-Palmolive from a strong-buy rating to a hold rating in a research report on Friday, July 26th. Sanford C. Bernstein increased their price objective on Colgate-Palmolive from $100.00 to $103.00 and gave the company a market perform rating in a report on Tuesday, July 30th. Jefferies Financial Group cut shares of Colgate-Palmolive from a buy rating to a hold rating and cut their target price for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. TD Cowen increased their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the stock a buy rating in a research note on Tuesday, July 30th. Finally, BNP Paribas started coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an outperform rating and a $109.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of Moderate Buy and a consensus target price of $104.74.

Colgate-Palmolive Stock Performance

Shares of CL opened at $103.79 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $109.30. The stock has a 50 day moving average price of $102.96 and a 200 day moving average price of $96.10. The company has a market capitalization of $85.15 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5 billion. During the same period last year, the firm posted $0.77 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Main Street Research LLC grew its holdings in Colgate-Palmolive by 1.5% during the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock valued at $673,000 after buying an additional 100 shares during the last quarter. Advisor OS LLC boosted its stake in shares of Colgate-Palmolive by 4.5% during the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after acquiring an additional 101 shares during the last quarter. BLB&B Advisors LLC increased its position in Colgate-Palmolive by 2.5% during the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after purchasing an additional 104 shares in the last quarter. ZWJ Investment Counsel Inc. raised its stake in Colgate-Palmolive by 3.1% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after purchasing an additional 109 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Colgate-Palmolive by 9.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after purchasing an additional 110 shares during 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.