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

StockNews.com downgraded shares of Colgate-Palmolive (NYSE:CL) from a buy rating to a hold rating in a research note published on Thursday.

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

Colgate-Palmolive Stock Performance

CL opened at $87.39 on Thursday. The company has a market capitalization of $71.40 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 3.31 and a beta of 0.44. The business’s 50-day moving average price is $92.76 and its two-hundred day moving average price is $98.15. Colgate-Palmolive has a 1 year low of $79.69 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 yield of 2.29%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 36,726 shares in the company, 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 at this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

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