Summit Global Investments Increases Stake in Colgate-Palmolive Company $CL

Summit Global Investments boosted its stake in Colgate-Palmolive Company (NYSE:CL) by 17.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 207,219 shares of the company’s stock after buying an additional 31,509 shares during the period. Colgate-Palmolive accounts for approximately 1.0% of Summit Global Investments’ portfolio, making the stock its 13th largest position. Summit Global Investments’ holdings in Colgate-Palmolive were worth $16,565,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CL. Westside Investment Management Inc. lifted its stake in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Copia Wealth Management bought a new position in Colgate-Palmolive in the third quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its position in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after buying an additional 155 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at $30,000. Finally, MTM Investment Management LLC purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. UBS Group boosted their price target on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Jefferies Financial Group set a $85.00 price target on Colgate-Palmolive in a research note on Tuesday, December 16th. Finally, Bank of America lowered their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

Colgate-Palmolive Trading Up 0.2%

Shares of NYSE:CL opened at $85.14 on Friday. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The company has a market cap of $68.63 billion, a P/E ratio of 23.85, a PEG ratio of 5.73 and a beta of 0.30. The stock’s fifty day moving average price is $80.58 and its 200-day moving average price is $81.42.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.Colgate-Palmolive’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is 58.26%.

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.