Summit Global Investments Decreases Stock Position in Colgate-Palmolive Company $CL

Summit Global Investments cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 23.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,952 shares of the company’s stock after selling 34,374 shares during the quarter. Colgate-Palmolive accounts for about 0.6% of Summit Global Investments’ investment portfolio, making the stock its 20th largest holding. Summit Global Investments’ holdings in Colgate-Palmolive were worth $9,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CL. Kemnay Advisory Services Inc. bought a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its holdings 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 purchasing an additional 150 shares during the last quarter. TD Capital Management LLC increased its stake in shares of Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the period. Triumph Capital Management raised its holdings in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive during the 4th quarter valued at $26,000. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CL shares. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $102.00 price target on shares of Colgate-Palmolive in a research note on Monday, May 4th. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Finally, Sanford C. Bernstein began coverage on Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $97.41.

Colgate-Palmolive Stock Down 1.1%

Shares of NYSE:CL opened at $91.93 on Tuesday. The stock has a fifty day simple moving average of $90.56 and a two-hundred day simple moving average of $88.69. The stock has a market capitalization of $73.56 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 4.90 and a beta of 0.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 82.49%.

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.