South State CORP. reduced its position in Colgate-Palmolive (NYSE:CL) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,901 shares of the company’s stock after selling 955 shares during the quarter. South State CORP.’s holdings in Colgate-Palmolive were worth $860,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. E Fund Management Co. Ltd. bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at $118,000. Norinchukin Bank The lifted its position in shares of Colgate-Palmolive by 5.7% during the 1st quarter. Norinchukin Bank The now owns 620,903 shares of the company’s stock valued at $48,945,000 after acquiring an additional 33,341 shares during the period. Sei Investments Co. lifted its position in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Sei Investments Co. now owns 308,939 shares of the company’s stock valued at $25,538,000 after acquiring an additional 1,930 shares during the period. Linscomb & Williams Inc. acquired a new position in shares of Colgate-Palmolive during the 1st quarter valued at $138,000. Finally, ING Groep NV lifted its position in shares of Colgate-Palmolive by 38.0% during the 1st quarter. ING Groep NV now owns 60,080 shares of the company’s stock valued at $4,736,000 after acquiring an additional 16,545 shares during the period. 76.01% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on CL shares. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating and set a $85.00 target price on the stock in a research report on Monday, May 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Colgate-Palmolive from $84.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, May 3rd. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $87.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, April 16th. Finally, Credit Suisse Group upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $95.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $84.42.
Colgate-Palmolive (NYSE:CL) last posted its earnings results on Thursday, April 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Colgate-Palmolive had a net margin of 15.92% and a return on equity of 298.80%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive will post 3.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Wednesday, July 21st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. Colgate-Palmolive’s payout ratio is 58.82%.
In related news, insider John W. Kooyman sold 11,195 shares of the stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $82.07, for a total transaction of $918,773.65. Following the completion of the transaction, the insider now owns 19,251 shares in the company, valued at $1,579,929.57. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 25,279 shares of the stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $81.03, for a total transaction of $2,048,357.37. Following the transaction, the chief executive officer now owns 257,057 shares of the company’s stock, valued at approximately $20,829,328.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,040 shares of company stock valued at $7,384,255. Company insiders own 0.32% of the company’s stock.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment's products include 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 similar items.
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