Colgate-Palmolive (NYSE:CL) Shares Purchased by Summit Global Investments

Summit Global Investments boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 74.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 290,029 shares of the company’s stock after acquiring an additional 123,322 shares during the period. Colgate-Palmolive makes up approximately 1.6% of Summit Global Investments’ portfolio, making the stock its 6th largest position. Summit Global Investments’ holdings in Colgate-Palmolive were worth $26,367,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Axxcess Wealth Management LLC raised its position in Colgate-Palmolive by 0.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock valued at $3,526,000 after purchasing an additional 117 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in shares of Colgate-Palmolive by 4.5% during the fourth quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock worth $247,000 after buying an additional 118 shares during the period. D Orazio & Associates Inc. raised its holdings in Colgate-Palmolive by 4.2% in the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock valued at $271,000 after acquiring an additional 120 shares in the last quarter. Lantz Financial LLC raised its holdings in Colgate-Palmolive by 0.6% in the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock valued at $1,831,000 after acquiring an additional 122 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its stake in Colgate-Palmolive by 4.2% in the third quarter. Horizon Kinetics Asset Management LLC now owns 3,102 shares of the company’s stock worth $322,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CL. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. UBS Group dropped their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, Morgan Stanley cut their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Trading Up 0.0 %

NYSE CL opened at $90.30 on Friday. The firm’s fifty day moving average is $89.33 and its two-hundred day moving average is $94.27. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The firm has a market cap of $73.28 billion, a PE ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the previous year, the firm posted $0.87 EPS. Analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.82%.

Colgate-Palmolive declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.