Summit Investment Advisors Inc. Buys 3,187 Shares of Colgate-Palmolive (NYSE:CL)

Summit Investment Advisors Inc. lifted its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 10.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,710 shares of the company's stock after acquiring an additional 3,187 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Colgate-Palmolive were worth $2,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Chicago Partners Investment Group LLC raised its stake in Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock worth $591,000 after purchasing an additional 943 shares in the last quarter. Aviva PLC raised its stake in Colgate-Palmolive by 13.4% in the fourth quarter. Aviva PLC now owns 973,421 shares of the company's stock valued at $88,494,000 after purchasing an additional 114,855 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in Colgate-Palmolive during the fourth quarter worth about $1,315,000. Fiduciary Alliance LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $4,066,000. Finally, Impact Partnership Wealth LLC acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $803,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CL. StockNews.com cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday. Royal Bank of Canada reiterated a "sector perform" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Morgan Stanley reduced their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, TD Cowen dropped their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $102.17.

Colgate-Palmolive Trading Up 2.1 %

Shares of NYSE:CL traded up $2.00 on Friday, hitting $95.49. The company had a trading volume of 7,029,569 shares, compared to its average volume of 4,590,228. The firm's 50-day simple moving average is $91.31 and its two-hundred day simple moving average is $92.43. The firm has a market capitalization of $77.45 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period last year, the company posted $0.87 earnings per share. Equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has initiated a share buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend 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 currently 59.09%.

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.