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

Yacktman Asset Management LP lowered its stake in Colgate-Palmolive (NYSE:CL) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,301,900 shares of the company’s stock after selling 3,100 shares during the period. Yacktman Asset Management LP’s holdings in Colgate-Palmolive were worth $103,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC increased its holdings in shares of Colgate-Palmolive by 1.9% in the third quarter. Flagship Harbor Advisors LLC now owns 11,325 shares of the company’s stock valued at $805,000 after purchasing an additional 208 shares during the period. DAVENPORT & Co LLC raised its position in Colgate-Palmolive by 0.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 43,553 shares of the company’s stock worth $3,097,000 after buying an additional 163 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in Colgate-Palmolive by 79.7% during the 3rd quarter. Meridian Wealth Management LLC now owns 16,368 shares of the company’s stock valued at $1,164,000 after acquiring an additional 7,258 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Colgate-Palmolive by 95.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 28,722 shares of the company’s stock valued at $2,042,000 after acquiring an additional 14,051 shares during the last quarter. Finally, KFG Wealth Management LLC increased its stake in shares of Colgate-Palmolive by 12.9% in the third quarter. KFG Wealth Management LLC now owns 7,998 shares of the company’s stock worth $569,000 after acquiring an additional 915 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $1.74 during midday trading on Friday, hitting $91.03. The stock had a trading volume of 5,700,287 shares, compared to its average volume of 4,585,494. The stock has a 50 day simple moving average of $87.51 and a 200-day simple moving average of $81.30. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $92.25. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. The company has a market capitalization of $74.83 billion, a PE ratio of 32.59, a P/E/G ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the business earned $0.73 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Colgate-Palmolive will post 3.5 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be given a dividend of $0.50 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.20%. Colgate-Palmolive’s payout ratio is presently 71.94%.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the transaction, the chief executive officer now directly owns 286,881 shares in the company, valued at approximately $24,161,117.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of Colgate-Palmolive stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total value of $5,891,020.56. Following the sale, the chief executive officer now owns 286,881 shares in the company, valued at $24,161,117.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Martin Harris sold 2,760 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total value of $233,220.00. Following the transaction, the director now owns 19,272 shares of the company’s stock, valued at $1,628,484. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,371 shares of company stock worth $19,505,099. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CL. Barclays upped their price target on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Citigroup lifted their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley boosted their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, January 29th. TheStreet raised shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Finally, UBS Group boosted their target price on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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.