Summit Financial LLC Boosts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Summit Financial LLC boosted its position in Colgate-Palmolive (NYSE:CL) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,134 shares of the company’s stock after buying an additional 807 shares during the quarter. Summit Financial LLC’s holdings in Colgate-Palmolive were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in Colgate-Palmolive by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 220,030 shares of the company’s stock worth $20,003,000 after acquiring an additional 4,576 shares during the last quarter. Joseph Group Capital Management bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $64,000. Allianz SE purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $8,645,000. Transamerica Financial Advisors Inc. boosted its holdings in Colgate-Palmolive by 30.1% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 8,240 shares of the company’s stock worth $750,000 after buying an additional 1,905 shares during the period. Finally, OneAscent Wealth Management LLC grew its stake in Colgate-Palmolive by 4.2% in the 4th quarter. OneAscent Wealth Management LLC now owns 3,725 shares of the company’s stock valued at $339,000 after buying an additional 149 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $93.95 on Wednesday. The company has a market capitalization of $76.20 billion, a P/E ratio of 26.69, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week 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 stock has a 50 day moving average price of $89.91 and a two-hundred day moving average price of $93.35.

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

Colgate-Palmolive announced that its board has authorized a stock repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.21%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 59.09%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CL shares. JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wells Fargo & Company cut their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.78.

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.