Summit Global Investments Has $17.31 Million Stock Position in Colgate-Palmolive (NYSE:CL)

Summit Global Investments lifted its holdings in Colgate-Palmolive (NYSE:CL) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and 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 about 1.1% of Summit Global Investments’ investment portfolio, making the stock its 15th biggest holding. Summit Global Investments’ holdings in Colgate-Palmolive were worth $17,306,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Norden Group LLC acquired a new position in Colgate-Palmolive during the first quarter valued at approximately $532,000. Envestnet Portfolio Solutions Inc. raised its holdings in Colgate-Palmolive by 30.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 24,251 shares of the company’s stock worth $2,184,000 after acquiring an additional 5,614 shares during the period. Empowered Funds LLC boosted its holdings in Colgate-Palmolive by 277.3% during the first quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock valued at $2,979,000 after acquiring an additional 24,314 shares during the period. Hilltop National Bank bought a new stake in Colgate-Palmolive during the first quarter valued at about $188,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Colgate-Palmolive by 3.4% in the first 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 purchasing an additional 396 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CL shares. Morgan Stanley increased their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Evercore ISI raised their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Stock Up 0.6 %

Shares of NYSE:CL opened at $90.77 on Friday. The company’s fifty day moving average is $101.49 and its 200-day moving average is $98.39. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a 52 week low of $74.67 and a 52 week high of $109.30. The company has a market capitalization of $74.16 billion, a PE ratio of 26.01, a P/E/G ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. 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 is 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Company 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.