Summit Trail Advisors LLC Buys 488 Shares of Colgate-Palmolive (NYSE:CL)

Summit Trail Advisors LLC boosted its stake in Colgate-Palmolive (NYSE:CL) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,748 shares of the company’s stock after buying an additional 488 shares during the quarter. Summit Trail Advisors LLC’s holdings in Colgate-Palmolive were worth $378,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in shares of Colgate-Palmolive by 3.2% in the 3rd quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock worth $1,195,785,000 after acquiring an additional 514,559 shares in the last quarter. Northern Trust Corp boosted its stake in Colgate-Palmolive by 3.3% in the third quarter. Northern Trust Corp now owns 9,452,931 shares of the company’s stock worth $672,198,000 after purchasing an additional 305,862 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Colgate-Palmolive by 2.0% during the third quarter. American Century Companies Inc. now owns 6,590,405 shares of the company’s stock worth $468,644,000 after purchasing an additional 127,805 shares during the last quarter. FMR LLC increased its stake in shares of Colgate-Palmolive by 27.3% in the third quarter. FMR LLC now owns 5,597,742 shares of the company’s stock valued at $398,055,000 after buying an additional 1,199,660 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Colgate-Palmolive by 10.1% in the third quarter. Nordea Investment Management AB now owns 5,455,384 shares of the company’s stock valued at $390,005,000 after buying an additional 500,916 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jennifer Daniels sold 3,538 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total transaction of $299,562.46. Following the completion of the transaction, the insider now directly owns 59,698 shares in the company, valued at $5,054,629.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jennifer Daniels sold 3,538 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.67, for a total value of $299,562.46. Following the transaction, the insider now directly owns 59,698 shares of the company’s stock, valued at $5,054,629.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noel R. Wallace sold 69,948 shares of Colgate-Palmolive stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total transaction of $5,891,020.56. Following the sale, the chief executive officer now directly owns 286,881 shares of the company’s stock, valued at approximately $24,161,117.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,048 shares of company stock worth $13,336,846. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $94.08 on Wednesday. The firm’s 50 day simple moving average is $88.64 and its 200 day simple moving average is $82.63. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $94.21. The company has a market capitalization of $77.19 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 3.43 and a beta of 0.40. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.52 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be issued a $0.50 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. StockNews.com lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. UBS Group raised their price target on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 29th. Citigroup upped their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada lifted their target price on Colgate-Palmolive from $88.00 to $95.00 and gave the company a “sector perform” rating in a research note on Monday, April 29th. Finally, Morgan Stanley raised their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $91.44.

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.