StockNews.com Upgrades Colgate-Palmolive (NYSE:CL) to Buy

Colgate-Palmolive (NYSE:CL) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

CL has been the subject of several other research reports. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price for the company. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Finally, TD Cowen cut their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $92.39 on Tuesday. Colgate-Palmolive has a 1 year low of $78.29 and a 1 year high of $109.30. The firm has a market cap of $75.48 billion, a P/E ratio of 26.47, a PEG ratio of 3.31 and a beta of 0.43. The stock has a fifty day moving average price of $94.66 and a two-hundred day moving average price of $98.66. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Colgate-Palmolive

Several large investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after acquiring an additional 1,784,411 shares in the last quarter. Geode Capital Management LLC grew its stake in Colgate-Palmolive by 2.8% in the third quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock valued at $2,095,325,000 after purchasing an additional 552,949 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Colgate-Palmolive by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock valued at $988,997,000 after purchasing an additional 557,492 shares during the period. Legal & General Group Plc lifted its stake in Colgate-Palmolive by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after purchasing an additional 61,413 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

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.