Colgate-Palmolive (NYSE:CL) Shares Sold by SouthState Corp

SouthState Corp trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,190 shares of the company’s stock after selling 468 shares during the period. SouthState Corp’s holdings in Colgate-Palmolive were worth $472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $32,000. Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at approximately $32,000. Finally, Wintrust Investments LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CL shares. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler lowered their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and set a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, Barclays lowered their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.72.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $90.72 on Tuesday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company has a market cap of $73.62 billion, a PE ratio of 25.77, a P/E/G ratio of 4.20 and a beta of 0.40. The stock has a 50 day simple moving average of $89.09 and a 200-day simple moving average of $94.56.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the previous year, the business earned $0.87 earnings per share. On average, equities research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

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.