Yacktman Asset Management LP Decreases Position in Colgate-Palmolive (NYSE:CL)

Yacktman Asset Management LP trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,186,700 shares of the company’s stock after selling 7,500 shares during the quarter. Yacktman Asset Management LP owned 0.15% of Colgate-Palmolive worth $115,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CL. Mitchell Sinkler & Starr PA lifted its stake in shares of Colgate-Palmolive by 92.6% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 45,899 shares of the company’s stock worth $3,659,000 after buying an additional 22,073 shares during the period. Stonehage Fleming Financial Services Holdings Ltd lifted its position in Colgate-Palmolive by 57.1% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 383,819 shares of the company’s stock worth $30,594,000 after acquiring an additional 139,429 shares during the period. D L Carlson Investment Group Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter worth about $3,269,000. Diversify Advisory Services LLC purchased a new stake in Colgate-Palmolive during the 1st quarter valued at about $911,000. Finally, TD Asset Management Inc increased its holdings in shares of Colgate-Palmolive by 2.4% in the first quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock valued at $103,969,000 after purchasing an additional 26,987 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Barclays lifted their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Hsbc Global Res cut shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Bank of America boosted their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.53.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded down $0.28 during trading on Thursday, hitting $108.49. 1,602,204 shares of the company were exchanged, compared to its average volume of 4,314,065. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $109.24. The firm’s fifty day moving average price is $100.65 and its 200 day moving average price is $94.18. The company has a market cap of $89.01 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 3.73 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Colgate-Palmolive will post 3.57 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a $0.50 dividend. The ex-dividend date was Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 1.84%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Activity at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive 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.