Summit Trail Advisors LLC Buys 3,139 Shares of Colgate-Palmolive (NYSE:CL)

Summit Trail Advisors LLC grew its position in shares of Colgate-Palmolive (NYSE:CL) by 57.2% in the 3rd quarter, Holdings Channel reports. The firm owned 8,629 shares of the company’s stock after acquiring an additional 3,139 shares during the quarter. Summit Trail Advisors LLC’s holdings in Colgate-Palmolive were worth $896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Centaurus Financial Inc. lifted its holdings in Colgate-Palmolive by 15.7% in the third quarter. Centaurus Financial Inc. now owns 3,421 shares of the company’s stock valued at $355,000 after buying an additional 464 shares during the period. Larson Financial Group LLC raised its position in shares of Colgate-Palmolive by 526.0% in the 3rd quarter. Larson Financial Group LLC now owns 795 shares of the company’s stock worth $83,000 after acquiring an additional 668 shares in the last quarter. Sompo Asset Management Co. Ltd. boosted its position in shares of Colgate-Palmolive by 7.1% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 56,787 shares of the company’s stock valued at $5,895,000 after purchasing an additional 3,780 shares in the last quarter. Pitcairn Co. boosted its position in shares of Colgate-Palmolive by 8.2% during the 3rd quarter. Pitcairn Co. now owns 10,388 shares of the company’s stock valued at $1,078,000 after purchasing an additional 787 shares in the last quarter. Finally, Algert Global LLC grew its stake in Colgate-Palmolive by 830.4% during the third quarter. Algert Global LLC now owns 47,739 shares of the company’s stock worth $4,956,000 after purchasing an additional 42,608 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by insiders.

Colgate-Palmolive Price Performance

CL opened at $95.34 on Tuesday. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The company has a market capitalization of $77.89 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 3.39 and a beta of 0.42. The firm’s fifty day moving average price is $97.90 and its two-hundred day moving average price is $98.58.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Analyst Ratings Changes

CL has been the topic of a number of research analyst reports. Sanford C. Bernstein increased their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Barclays upped their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company reduced their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Company 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.