Summit Global Investments Sells 21,502 Shares of Colgate-Palmolive Company (CL)

Summit Global Investments trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 49.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,316 shares of the company’s stock after selling 21,502 shares during the period. Summit Global Investments’ holdings in Colgate-Palmolive were worth $1,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $102,000. Proficio Capital Partners LLC lifted its position in shares of Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares during the last quarter. OLD Second National Bank of Aurora acquired a new stake in shares of Colgate-Palmolive in the second quarter valued at approximately $109,000. Hanson & Doremus Investment Management lifted its position in shares of Colgate-Palmolive by 4.5% in the second quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock valued at $121,000 after buying an additional 70 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $121,000. 73.87% of the stock is owned by institutional investors.

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In other news, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $70.52, for a total value of $1,465,405.60. Following the transaction, the director now directly owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Justin Skala sold 126,393 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the transaction, the chief operating officer now directly owns 262,361 shares in the company, valued at $19,144,482.17. The disclosure for this sale can be found here. Insiders have sold a total of 164,673 shares of company stock worth $11,968,603 over the last ninety days. Company insiders own 1.02% of the company’s stock.

Colgate-Palmolive Company (NYSE CL) opened at $73.46 on Wednesday. The company has a market capitalization of $64,716.35, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.38 and a beta of 0.80. Colgate-Palmolive Company has a twelve month low of $63.43 and a twelve month high of $77.27. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 27th. The company reported $0.73 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.94 billion. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. equities analysts anticipate that Colgate-Palmolive Company will post 2.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, October 20th. Colgate-Palmolive’s payout ratio is presently 61.78%.

Several research firms recently weighed in on CL. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Monday, October 23rd. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $84.00 in a report on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. SunTrust Banks, Inc. raised Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $76.67.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

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

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