South State Corp Increases Holdings in Colgate-Palmolive (CL)
South State Corp raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,519 shares of the company’s stock after buying an additional 1,305 shares during the period. South State Corp’s holdings in Colgate-Palmolive were worth $2,223,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. increased its stake in shares of Colgate-Palmolive by 8.4% in the second quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock worth $1,499,000 after purchasing an additional 1,566 shares in the last quarter. Fiduciary Trust Co. increased its stake in shares of Colgate-Palmolive by 1.6% in the second quarter. Fiduciary Trust Co. now owns 170,818 shares of the company’s stock worth $12,663,000 after purchasing an additional 2,758 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Colgate-Palmolive by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,131,987 shares of the company’s stock worth $83,914,000 after purchasing an additional 105,878 shares in the last quarter. Pensionfund DSM Netherlands purchased a new stake in shares of Colgate-Palmolive in the third quarter worth $4,225,000. Finally, Pacad Investment Ltd. purchased a new stake in shares of Colgate-Palmolive in the second quarter worth $549,000. 72.83% of the stock is owned by institutional investors and hedge funds.
In other Colgate-Palmolive news, Director Stephen I. Sadove sold 20,780 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the completion of the transaction, the director now owns 36,268 shares in the company, valued at $2,557,619.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Justin Skala sold 126,393 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the transaction, the chief operating officer now owns 262,361 shares of the company’s stock, valued at approximately $19,144,482.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,048 shares of company stock valued at $13,168,995. 1.02% of the stock is owned by company insiders.
Colgate-Palmolive (NYSE:CL) opened at $75.53 on Tuesday. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27. The firm has a market cap of $66,320.00, a price-to-earnings ratio of 29.16, a P/E/G ratio of 3.21 and a beta of 0.81.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts expect that Colgate-Palmolive will post 2.88 EPS for the current year.
A number of brokerages have recently issued reports on CL. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Monday. Royal Bank of Canada reissued a “hold” rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a research note on Sunday, October 8th. Macquarie began coverage on shares of Colgate-Palmolive in a research note on Thursday, September 14th. They issued a “neutral” rating and a $76.00 price objective for the company. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $75.00 to $84.00 in a research note on Monday, September 25th. Finally, Jefferies Group reduced their price objective on shares of Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating for the company in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Colgate-Palmolive presently has a consensus rating of “Hold” and an average price target of $76.51.
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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