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

Yacktman Asset Management LP trimmed its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.6% during the second quarter, according to its most recent 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’s holdings in Colgate-Palmolive were worth $115,157,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $25,000. Union Savings Bank lifted its stake in Colgate-Palmolive by 76.6% in the fourth quarter. Union Savings Bank now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. PSI Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 4,971.4% during the first quarter. PSI Advisors LLC now owns 355 shares of the company’s stock valued at $32,000 after acquiring an additional 348 shares during the period. Continuum Advisory LLC grew its position in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL traded down $0.28 during midday trading on Thursday, hitting $108.49. The company had a trading volume of 1,602,204 shares, compared to its average volume of 4,314,065. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.24. The firm’s 50-day simple moving average is $100.65 and its 200-day simple moving average is $94.18. The company has a market capitalization of $89.01 billion, a PE ratio of 34.33, a P/E/G ratio of 3.73 and a beta of 0.39. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, July 19th. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Analyst Upgrades and Downgrades

CL has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Barclays raised their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. TD Cowen increased their target price on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, HSBC restated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.53.

Insider Buying and Selling

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated 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 directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now directly owns 5,146 shares of the company’s stock, valued at $529,729.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 over the last three months. Company insiders own 0.34% of the company’s stock.

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.