Colgate-Palmolive (NYSE:CL) Raised to "Buy" at StockNews.com

StockNews.com upgraded shares of Colgate-Palmolive (NYSE:CL - Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler began 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 for the company. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Jefferies Financial Group lowered Colgate-Palmolive from a "buy" rating to a "hold" rating and dropped their target price for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. Stifel Nicolaus downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating and decreased their price target for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Finally, Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $105.11.

Colgate-Palmolive Stock Performance

Shares of NYSE CL traded up $0.38 during trading hours on Thursday, reaching $91.45. The stock had a trading volume of 4,656,544 shares, compared to its average volume of 4,374,282. The firm has a 50-day moving average of $99.94 and a 200-day moving average of $98.48. The firm has a market cap of $74.72 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.27 and a beta of 0.42. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a fifty-two week low of $75.17 and a fifty-two week high of $109.30.

Colgate-Palmolive Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive's dividend payout ratio is presently 57.31%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the 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 transaction, the chief financial officer now owns 36,726 shares of the company's stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Martina Hundmejean sold 2,313 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now owns 11,755 shares of the company's stock, valued at approximately $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company's stock worth $3,698,096,000 after buying an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Colgate-Palmolive by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company's stock valued at $988,997,000 after purchasing an additional 557,492 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company's stock worth $755,465,000 after purchasing an additional 61,413 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd boosted its position in shares of Colgate-Palmolive by 4.1% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company's stock worth $629,220,000 after buying an additional 278,150 shares during the period. Finally, FMR LLC raised its holdings in shares of Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company's stock valued at $700,642,000 after buying an additional 2,674,807 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

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.