Summit Global Investments Acquires 3,105 Shares of Colgate-Palmolive (NYSE:CL)

Summit Global Investments lifted its stake in Colgate-Palmolive (NYSE:CL) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,707 shares of the company’s stock after purchasing an additional 3,105 shares during the period. Colgate-Palmolive accounts for approximately 1.1% of Summit Global Investments’ holdings, making the stock its 15th largest holding. Summit Global Investments’ holdings in Colgate-Palmolive were worth $17,306,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CL. Norden Group LLC bought a new position in Colgate-Palmolive during the 1st quarter worth about $532,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Colgate-Palmolive by 30.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 24,251 shares of the company’s stock worth $2,184,000 after buying an additional 5,614 shares during the period. Empowered Funds LLC grew its holdings in shares of Colgate-Palmolive by 277.3% during the first quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock worth $2,979,000 after buying an additional 24,314 shares in the last quarter. Hilltop National Bank acquired a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $188,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Colgate-Palmolive by 3.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the company’s stock valued at $1,078,000 after acquiring an additional 396 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s 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 sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 0.6 %

Shares of CL stock opened at $90.77 on Friday. Colgate-Palmolive has a 12-month low of $74.67 and a 12-month high of $109.30. The company has a market capitalization of $74.16 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. The firm has a 50 day moving average price of $101.49 and a two-hundred day moving average price of $98.39. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

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 paid a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.20%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Analyst Ratings Changes

CL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $101.00 in a research report on Monday, October 28th. UBS Group raised their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Barclays raised their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive 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.