Colgate-Palmolive (NYSE:CL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Colgate-Palmolive (NYSE:CL) from a hold rating to a buy rating in a report released on Saturday morning.

Other equities research analysts have also issued research reports about the company. TD Cowen reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Piper Sandler boosted their price target on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Evercore upped their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Bank of America increased their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $85.00 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The company has a market capitalization of $68.52 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 3.81 and a beta of 0.28. The firm has a 50-day moving average price of $91.07 and a two-hundred day moving average price of $83.37. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Panagiotis Tsourapas sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the sale, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $1,018,691.15. The trade was a 59.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last ninety days. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CL. Kemnay Advisory Services Inc. purchased a new position in Colgate-Palmolive during the fourth quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after buying an additional 150 shares during the period. TD Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the last quarter. Triumph Capital Management raised its position in shares of Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.