Summit Trail Advisors LLC Grows Holdings in Colgate-Palmolive (CL)

Summit Trail Advisors LLC boosted its holdings in Colgate-Palmolive (NYSE:CL) by 7,820.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,157 shares of the company’s stock after purchasing an additional 229,226 shares during the quarter. Summit Trail Advisors LLC’s holdings in Colgate-Palmolive were worth $232,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CL. Virtue Capital Management LLC bought a new stake in Colgate-Palmolive in the fourth quarter valued at $104,000. Rainier Group Investment Advisory LLC bought a new stake in Colgate-Palmolive in the first quarter valued at $107,000. Quadrant Capital Group LLC lifted its stake in Colgate-Palmolive by 142.4% in the first quarter. Quadrant Capital Group LLC now owns 1,602 shares of the company’s stock valued at $108,000 after buying an additional 941 shares during the last quarter. Centerpoint Advisors LLC bought a new stake in Colgate-Palmolive in the first quarter valued at $112,000. Finally, Princeton Capital Management LLC bought a new stake in Colgate-Palmolive in the first quarter valued at $117,000. 73.17% of the stock is owned by hedge funds and other institutional investors.

Shares of Colgate-Palmolive opened at $65.11 on Tuesday, according to MarketBeat.com. Colgate-Palmolive has a fifty-two week low of $61.28 and a fifty-two week high of $77.91. The company has a current ratio of 1.08, a quick ratio of 0.75 and a debt-to-equity ratio of 64.85. The stock has a market cap of $56.38 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.62 and a beta of 0.75.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 27th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Colgate-Palmolive had a net margin of 13.30% and a return on equity of 1,486.69%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. analysts predict that Colgate-Palmolive will post 3.14 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a stock repurchase program on Monday, June 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Wednesday, July 18th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Tuesday, July 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.

In other Colgate-Palmolive news, Director Helene D. Gayle sold 7,000 shares of the business’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $62.23, for a total value of $435,610.00. Following the sale, the director now directly owns 35,395 shares in the company, valued at $2,202,630.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Franck J. Moison sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $61.75, for a total transaction of $4,940,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,579 shares of company stock worth $10,215,058. Company insiders own 1.02% of the company’s stock.

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their target price on Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 21st. Argus upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Friday, May 25th. They noted that the move was a valuation call. Sanford C. Bernstein reiterated a “market perform” rating and issued a $72.00 target price on shares of Colgate-Palmolive in a research note on Thursday, May 24th. ValuEngine cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Citigroup cut their target price on Colgate-Palmolive from $80.00 to $73.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 1st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $75.00.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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