Colgate-Palmolive (NYSE:CL) Upgraded to “Buy” 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.

Several other research firms have also weighed in on CL. TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Sunday, February 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $85.14 on Friday. The company has a market capitalization of $68.62 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 3.81 and a beta of 0.28. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $99.33. 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 stock’s fifty day simple moving average is $91.01 and its 200-day simple moving average is $83.36.

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

Colgate-Palmolive Increases Dividend

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

Insider Buying and Selling

In other Colgate-Palmolive news, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the sale, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $985,363.15. This represents a 77.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. acquired a new position in shares of 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% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. TD Capital Management LLC increased its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Triumph Capital Management increased its position in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new position in Colgate-Palmolive during the 4th quarter valued at $26,000. 80.41% of the stock is owned by institutional investors.

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.