Summit Investment Advisors Inc. Boosts Stock Position in Colgate-Palmolive (NYSE:CL)

Summit Investment Advisors Inc. raised its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,710 shares of the company's stock after acquiring an additional 3,187 shares during the period. Summit Investment Advisors Inc.'s holdings in Colgate-Palmolive were worth $2,974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Colgate-Palmolive by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock valued at $7,391,261,000 after buying an additional 588,230 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after purchasing an additional 324,683 shares during the period. Norges Bank purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth approximately $912,375,000. Amundi grew its position in Colgate-Palmolive by 12.8% during the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after buying an additional 1,040,604 shares during the period. Finally, Barclays PLC increased its holdings in Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after buying an additional 2,132,747 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of several recent research reports. Royal Bank of Canada reissued a "sector perform" rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Raymond James reissued an "outperform" rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Stifel Nicolaus decreased their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler dropped their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.17.

Colgate-Palmolive Stock Up 2.1 %

NYSE CL traded up $2.00 during trading on Friday, reaching $95.49. 7,029,569 shares of the company's stock traded hands, compared to its average volume of 4,591,385. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The firm has a market cap of $77.45 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company's 50 day simple moving average is $91.15 and its two-hundred day simple moving average is $92.48.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping 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 period in the prior year, the business earned $0.87 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a $0.52 dividend. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.18%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 59.09%.

Colgate-Palmolive announced that its board has approved a share repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.