Colgate-Palmolive (NYSE:CL) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Colgate-Palmolive (NYSE:CL) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $121.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Hsbc Global Res cut shares of Colgate-Palmolive from a strong-buy rating to a hold rating in a report on Friday, July 26th. Redburn Atlantic raised shares of Colgate-Palmolive to a hold rating in a report on Thursday, August 1st. UBS Group upped their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a buy rating in a report on Wednesday, September 4th. Bank of America upped their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a buy rating in a report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a buy rating to a hold rating and increased their price target for the company from $107.00 to $109.00 in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of Moderate Buy and a consensus target price of $104.74.

Colgate-Palmolive Trading Down 0.7 %

Colgate-Palmolive stock opened at $103.05 on Tuesday. The firm has a 50-day moving average of $103.05 and a 200-day moving average of $96.16. Colgate-Palmolive has a one year low of $67.62 and a one year high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The company has a market cap of $84.55 billion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 3.62 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. On average, equities analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Insider Buying and Selling

In related news, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,069,868.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,490 shares of company stock worth $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Colgate-Palmolive

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Colgate-Palmolive by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 79,894,344 shares of the company’s stock valued at $6,368,378,000 after buying an additional 416,853 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after purchasing an additional 2,593,313 shares during the period. Legal & General Group Plc lifted its holdings in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd lifted its holdings in shares of Colgate-Palmolive by 4.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after purchasing an additional 278,150 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

About Colgate-Palmolive

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.