Summit Global Investments boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 26.6% during the first quarter, Holdings Channel reports. The fund owned 43,818 shares of the company’s stock after buying an additional 9,201 shares during the period. Colgate-Palmolive makes up about 1.0% of Summit Global Investments’ investment portfolio, making the stock its 28th largest position. Summit Global Investments’ holdings in Colgate-Palmolive were worth $3,207,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CL. Bank of New York Mellon Corp raised its stake in Colgate-Palmolive by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 18,821,363 shares of the company’s stock valued at $1,377,537,000 after buying an additional 169,798 shares during the last quarter. First Eagle Investment Management LLC raised its stake in Colgate-Palmolive by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 4,782,281 shares of the company’s stock valued at $350,015,000 after buying an additional 122,983 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Colgate-Palmolive by 84.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,554,989 shares of the company’s stock valued at $333,380,000 after buying an additional 2,082,262 shares during the last quarter. Legal & General Group Plc raised its stake in Colgate-Palmolive by 5.1% in the first quarter. Legal & General Group Plc now owns 4,293,890 shares of the company’s stock valued at $314,276,000 after buying an additional 208,905 shares during the last quarter. Finally, Swiss National Bank raised its stake in Colgate-Palmolive by 22.2% in the first quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock valued at $268,393,000 after buying an additional 666,400 shares during the last quarter. 73.69% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Company (NYSE:CL) traded up 0.344% during mid-day trading on Monday, hitting $71.505. The stock had a trading volume of 534,339 shares. The company has a 50 day moving average price of $72.84 and a 200-day moving average price of $72.74. Colgate-Palmolive Company has a one year low of $63.43 and a one year high of $77.27. The company has a market cap of $62.98 billion, a price-to-earnings ratio of 26.572 and a beta of 0.80.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the business posted $0.70 EPS. The business’s revenue was down .5% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive Company will post $2.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is presently 59.48%.

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A number of brokerages have issued reports on CL. Bank of America Corporation boosted their target price on Colgate-Palmolive from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, July 4th. Jefferies Group LLC began coverage on Colgate-Palmolive in a research report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price on the stock. BidaskClub lowered Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $75.82.

In other news, Vice Chairman Franck J. Moison sold 35,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.52, for a total value of $2,503,200.00. Following the transaction, the insider now owns 201,411 shares of the company’s stock, valued at approximately $14,404,914.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Dennis J. Hickey sold 73,872 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.80, for a total transaction of $5,304,009.60. Following the completion of the transaction, the chief financial officer now directly owns 484,985 shares in the company, valued at approximately $34,821,923. The disclosure for this sale can be found here. In the last three months, insiders sold 203,969 shares of company stock worth $14,711,068. Insiders own 1.02% of the company’s stock.

About Colgate-Palmolive

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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