Colgate-Palmolive (NYSE:CL) Rating Increased 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 Thursday morning.

CL has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. UBS Group increased their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Finally, Evercore ISI increased their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. One research 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 data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

NYSE CL traded up $1.89 during mid-day trading on Thursday, reaching $93.34. 2,698,385 shares of the stock were exchanged, compared to its average volume of 4,366,954. Colgate-Palmolive has a 1 year low of $75.17 and a 1 year high of $109.30. 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 business’s 50 day moving average is $99.60 and its 200-day moving average is $98.43. The company has a market capitalization of $76.26 billion, a P/E ratio of 26.22, a P/E/G ratio of 3.25 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Activity

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’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 transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

Several institutional investors have recently modified their holdings of CL. IHT Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive by 37.8% in the third quarter. IHT Wealth Management LLC now owns 21,377 shares of the company’s stock worth $2,196,000 after buying an additional 5,869 shares during the period. Investment Management Corp of Ontario boosted its position in shares of Colgate-Palmolive by 403.3% in the third quarter. Investment Management Corp of Ontario now owns 182,286 shares of the company’s stock worth $18,923,000 after buying an additional 146,068 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Colgate-Palmolive by 864.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 777,854 shares of the company’s stock valued at $80,749,000 after buying an additional 697,168 shares in the last quarter. HighTower Advisors LLC raised its position in Colgate-Palmolive by 4.8% during the third quarter. HighTower Advisors LLC now owns 970,040 shares of the company’s stock valued at $100,689,000 after buying an additional 44,482 shares during the period. Finally, Hilltop Holdings Inc. purchased a new stake in Colgate-Palmolive in the 3rd quarter worth about $3,009,000. 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.