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 Tuesday.

Other research analysts have also issued reports about the company. UBS Group raised their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price target for the company from $107.00 to $109.00 in a research report on Monday, September 9th. TD Cowen decreased their target price 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. Finally, Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Trading Up 0.5 %

Colgate-Palmolive stock opened at $92.39 on Tuesday. The firm has a 50-day moving average price of $94.85 and a two-hundred day moving average price of $98.67. Colgate-Palmolive has a 52-week low of $78.29 and a 52-week high of $109.30. The firm has a market capitalization of $75.48 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.31 and a beta of 0.43. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.16%. Colgate-Palmolive’s dividend payout ratio is 57.31%.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated 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 owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new position in Colgate-Palmolive in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $53,000. Prospera Private Wealth LLC bought a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $64,000. True Wealth Design LLC raised its stake in shares of Colgate-Palmolive by 1,460.9% in the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

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.