StockNews.com Downgrades Colgate-Palmolive (NYSE:CL) to Hold

Colgate-Palmolive (NYSE:CL - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Monday.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Piper Sandler assumed coverage on 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 upped their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a "buy" rating to a "hold" rating and raised their target price for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Finally, Stifel Nicolaus cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $105.11.

Colgate-Palmolive Trading Down 0.5 %

Shares of Colgate-Palmolive stock traded down $0.50 during midday trading on Monday, reaching $92.94. 6,601,535 shares of the company's stock traded hands, compared to its average volume of 4,382,034. The stock has a 50 day moving average of $95.62 and a 200-day moving average of $98.70. Colgate-Palmolive has a 12 month low of $76.96 and a 12 month high of $109.30. The company has a market cap of $75.93 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04.

Insider Activity

In other Colgate-Palmolive 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 directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company's stock valued at $551,367,000 after buying an additional 2,955,442 shares during the last quarter. FMR LLC lifted its holdings in shares of Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company's stock valued at $700,642,000 after purchasing an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company's stock valued at $870,400,000 after buying an additional 2,593,313 shares during the last quarter. Barclays PLC boosted its stake in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after acquiring an additional 2,132,747 shares during the last quarter. Finally, State Street Corp raised its position in shares of Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after buying an additional 1,784,411 shares during the last quarter. Hedge funds and other institutional investors 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.

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