Yacktman Asset Management LP Cuts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Yacktman Asset Management LP lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 32.0% during the third quarter, HoldingsChannel reports. The firm owned 806,900 shares of the company’s stock after selling 379,800 shares during the period. Yacktman Asset Management LP’s holdings in Colgate-Palmolive were worth $83,764,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Colgate-Palmolive by 27.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after acquiring an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares during the last quarter. Legal & General Group Plc lifted its position in Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd increased its position in shares of Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after purchasing an additional 278,150 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after purchasing an additional 2,955,442 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, July 24th. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Bank of America upped their target price on Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $93.61 on Tuesday. The company has a market cap of $76.48 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 3.33 and a beta of 0.42. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The stock has a 50 day simple moving average of $102.03 and a 200-day simple moving average of $98.40. Colgate-Palmolive has a 12-month low of $74.67 and a 12-month high of $109.30.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the 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 transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the transaction, the insider now owns 5,146 shares in the company, valued at approximately $529,729.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

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.