Colgate-Palmolive Company (NYSE:CL) Given Average Recommendation of “Moderate Buy” by Brokerages

Colgate-Palmolive Company (NYSE:CL) has been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $95.8750.

CL has been the topic of a number of recent research reports. Piper Sandler cut their price target on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Royal Bank Of Canada restated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday. TD Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th.

Colgate-Palmolive Trading Up 2.2%

Shares of NYSE CL opened at $88.21 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.29 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $70.77 billion, a PE ratio of 34.32, a PEG ratio of 4.47 and a beta of 0.31. Colgate-Palmolive has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a fifty day simple moving average of $87.60 and a 200-day simple moving average of $84.28.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Colgate-Palmolive’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive will post 3.83 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is 82.49%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider John Hazlin sold 20,989 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the sale, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This trade represents a 54.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total value of $3,311,350.00. Following the completion of the transaction, the chief operating officer owned 10,415 shares of the company’s stock, valued at $985,363.15. The trade was a 77.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 70,989 shares of company stock valued at $6,756,713 over the last three months. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Colgate-Palmolive

Several hedge funds have recently added to or reduced their stakes in the company. World Equity Group Inc. acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at $444,000. AIA Group Ltd lifted its position in shares of Colgate-Palmolive by 33.4% during the 1st quarter. AIA Group Ltd now owns 26,275 shares of the company’s stock worth $2,239,000 after purchasing an additional 6,576 shares during the last quarter. Mediolanum International Funds Ltd grew its stake in shares of Colgate-Palmolive by 21.4% during the first quarter. Mediolanum International Funds Ltd now owns 441,064 shares of the company’s stock worth $37,812,000 after purchasing an additional 77,822 shares in the last quarter. Arjuna Capital purchased a new position in Colgate-Palmolive in the first quarter valued at $1,184,000. Finally, ANB Bank increased its holdings in Colgate-Palmolive by 1.7% in the first quarter. ANB Bank now owns 7,200 shares of the company’s stock valued at $614,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

About Colgate-Palmolive

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.