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

Yacktman Asset Management LP cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 802,400 shares of the company’s stock after selling 4,500 shares during the period. Yacktman Asset Management LP’s holdings in Colgate-Palmolive were worth $72,946,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CL. State Street Corp increased its stake in shares of Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after acquiring an additional 1,784,411 shares during the period. Geode Capital Management LLC increased its position in Colgate-Palmolive by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock worth $2,095,325,000 after purchasing an additional 552,949 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after buying an additional 557,492 shares in the last quarter. Barclays PLC lifted its holdings in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the period. Finally, FMR LLC boosted its stake in shares of Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus cut their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Piper Sandler dropped their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Raymond James reissued an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, UBS Group decreased their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $101.16.

Colgate-Palmolive Trading Down 0.9 %

NYSE CL opened at $85.94 on Tuesday. The company has a market cap of $70.21 billion, a P/E ratio of 24.41, a P/E/G ratio of 4.12 and a beta of 0.44. Colgate-Palmolive has a 12 month low of $82.68 and a 12 month high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26. The company has a 50-day moving average of $90.36 and a 200-day moving average of $96.77.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the business earned $0.87 earnings per share. As a group, equities analysts predict that Colgate-Palmolive will post 3.73 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is currently 56.82%.

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.