SouthState Corp Grows Stock Position in Colgate-Palmolive (NYSE:CL)

SouthState Corp boosted its stake in shares of Colgate-Palmolive (NYSE:CL) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,257 shares of the company’s stock after acquiring an additional 218 shares during the period. SouthState Corp’s holdings in Colgate-Palmolive were worth $499,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Colgate-Palmolive during the third quarter worth $25,000. Avion Wealth boosted its position in shares of Colgate-Palmolive by 78.1% during the 4th quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $34,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Colgate-Palmolive by 142.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock worth $35,000 after acquiring an additional 291 shares in the last quarter. Finally, West Branch Capital LLC raised its position in shares of Colgate-Palmolive by 24.0% during the 4th quarter. West Branch Capital LLC now owns 682 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. UBS Group increased their target price on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Raymond James raised Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 price objective on the stock in a report on Monday, January 29th. Finally, Bank of America lifted their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.44.

Insider Buying and Selling

In other news, CEO Noel R. Wallace sold 50,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the transaction, the chief executive officer now owns 274,179 shares in the company, valued at approximately $22,797,983.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Noel R. Wallace sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $83.15, for a total value of $4,157,500.00. Following the sale, the chief executive officer now owns 274,179 shares in the company, valued at approximately $22,797,983.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Daniels sold 3,538 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total value of $299,562.46. Following the sale, the insider now owns 59,698 shares in the company, valued at $5,054,629.66. The disclosure for this sale can be found here. Insiders have sold 159,048 shares of company stock valued at $13,336,846 over the last quarter. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

CL traded down $0.03 during trading on Friday, hitting $92.88. The stock had a trading volume of 5,432,692 shares, compared to its average volume of 4,690,854. The firm has a market capitalization of $76.20 billion, a P/E ratio of 29.39, a PEG ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 13.21, a quick ratio of 0.28 and a current ratio of 1.06. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $93.25. The company’s 50-day moving average price is $88.22 and its 200 day moving average price is $82.07.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 19th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.15%. Colgate-Palmolive’s payout ratio is 63.29%.

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.