Colgate-Palmolive (NYSE:CL) Upgraded 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 Monday.

CL has been the subject of a number of other research reports. Barclays reduced their target price on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Piper Sandler decreased their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. TD Cowen dropped their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Raymond James reissued an “outperform” rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, UBS Group dropped their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $101.61.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $92.74 on Monday. The company has a market capitalization of $75.26 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 4.20 and a beta of 0.44. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The firm has a 50-day moving average of $88.76 and a two-hundred day moving average of $95.37.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period last year, the business posted $0.87 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is 56.82%.

Institutional Trading of Colgate-Palmolive

Several large investors have recently modified their holdings of CL. Vanguard Group Inc. grew its stake in shares of Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock worth $7,391,261,000 after acquiring an additional 588,230 shares during the last quarter. State Street Corp boosted its holdings in Colgate-Palmolive by 3.8% in the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares during the period. Geode Capital Management LLC grew its position in Colgate-Palmolive by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company’s stock worth $1,868,723,000 after purchasing an additional 324,683 shares during the last quarter. Norges Bank bought a new position in shares of Colgate-Palmolive during the 4th quarter worth about $912,375,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Colgate-Palmolive by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock valued at $988,997,000 after buying an additional 557,492 shares during the last quarter. 80.41% of the stock is 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.