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

StockNews.com cut shares of Colgate-Palmolive (NYSE:CL) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Several other research firms have also issued reports on CL. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $103.63.

Colgate-Palmolive Trading Down 1.2 %

Shares of Colgate-Palmolive stock opened at $86.38 on Thursday. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30. The firm has a market capitalization of $70.57 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The company’s fifty day moving average price is $92.62 and its two-hundred day moving average price is $98.06.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Insider Activity

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s 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 sale, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Colgate-Palmolive

A number of institutional investors have recently made changes to their positions in CL. Coldstream Capital Management Inc. raised its holdings in Colgate-Palmolive by 2.1% in the second quarter. Coldstream Capital Management Inc. now owns 10,709 shares of the company’s stock worth $1,039,000 after purchasing an additional 221 shares during the period. MGO One Seven LLC lifted its holdings in Colgate-Palmolive by 17.5% during the second quarter. MGO One Seven LLC now owns 9,066 shares of the company’s stock worth $880,000 after acquiring an additional 1,348 shares in the last quarter. LPL Financial LLC grew its stake in Colgate-Palmolive by 4.6% in the second quarter. LPL Financial LLC now owns 666,793 shares of the company’s stock valued at $64,706,000 after acquiring an additional 29,494 shares during the period. Bahl & Gaynor Inc. increased its holdings in shares of Colgate-Palmolive by 0.7% in the second quarter. Bahl & Gaynor Inc. now owns 20,361 shares of the company’s stock worth $1,976,000 after acquiring an additional 144 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its position in shares of Colgate-Palmolive by 272.9% during the second quarter. Achmea Investment Management B.V. now owns 268,493 shares of the company’s stock worth $26,054,000 after purchasing an additional 196,498 shares during the period. 80.41% of the stock is 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.