Colgate-Palmolive (CL) Lifted to Buy at ValuEngine
Several other research firms also recently issued reports on CL. Zacks Investment Research upgraded Colgate-Palmolive from a hold rating to a buy rating and set a $82.00 price objective on the stock in a report on Wednesday, May 1st. Morgan Stanley boosted their price objective on Colgate-Palmolive from $62.00 to $68.00 and gave the company an equal weight rating in a report on Monday, April 29th. Macquarie boosted their price objective on Colgate-Palmolive from $65.00 to $72.00 and gave the company a neutral rating in a report on Monday, April 29th. Jefferies Financial Group boosted their price objective on Colgate-Palmolive from $61.00 to $73.00 and gave the company an in-line rating in a report on Monday, April 29th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded Colgate-Palmolive from an underweight rating to a neutral rating and boosted their price objective for the company from $62.00 to $70.00 in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $69.69.
Shares of Colgate-Palmolive stock opened at $71.15 on Monday. Colgate-Palmolive has a 52 week low of $57.41 and a 52 week high of $72.85. The firm has a market capitalization of $61.44 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 4.69 and a beta of 0.81. The company has a current ratio of 1.07, a quick ratio of 0.74 and a debt-to-equity ratio of 32.25.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42. Colgate-Palmolive’s dividend payout ratio is presently 57.91%.
In other news, SVP John J. Huston sold 14,039 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $70.59, for a total value of $991,013.01. Following the transaction, the senior vice president now owns 72,101 shares in the company, valued at approximately $5,089,609.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Justin Skala sold 4,488 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total value of $297,958.32. Following the completion of the sale, the vice president now directly owns 71,010 shares of the company’s stock, valued at $4,714,353.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 352,831 shares of company stock worth $24,752,192. Company insiders own 1.14% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CL. Capital Financial Planning LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth approximately $27,000. Timber Creek Capital Management LLC lifted its position in Colgate-Palmolive by 247.1% during the 4th quarter. Timber Creek Capital Management LLC now owns 472 shares of the company’s stock worth $28,000 after acquiring an additional 336 shares during the period. Parisi Gray Wealth Management lifted its position in Colgate-Palmolive by 365.3% during the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares during the period. Portfolio Solutions LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth approximately $30,000. Finally, Golden State Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 1st quarter worth approximately $32,000. 75.95% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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