SummitTX Capital L.P. Makes New $6.53 Million Investment in Colgate-Palmolive Company $CL

SummitTX Capital L.P. acquired a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the first quarter, HoldingsChannel.com reports. The fund acquired 76,563 shares of the company’s stock, valued at approximately $6,525,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CL. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC grew its stake in Colgate-Palmolive by 86.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC increased its holdings in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. Triumph Capital Management increased its holdings in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in Colgate-Palmolive in the 4th quarter worth $26,000. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. UBS Group raised their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Sanford C. Bernstein began coverage on Colgate-Palmolive in a research report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 target price on the stock. TD Cowen reissued a “hold” rating and set a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Finally, Bank of America reduced their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $92.00 on Tuesday. The firm has a fifty day simple moving average of $90.82 and a two-hundred day simple moving average of $89.15. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $73.62 billion, a P/E ratio of 35.80, a PEG ratio of 4.78 and a beta of 0.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.