Savoir Faire Capital Management L.P. Sells 21,086 Shares of Colgate-Palmolive (NYSE:CL)

Savoir Faire Capital Management L.P. reduced its stake in Colgate-Palmolive (NYSE:CL) by 56.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,143 shares of the company’s stock after selling 21,086 shares during the period. Savoir Faire Capital Management L.P.’s holdings in Colgate-Palmolive were worth $1,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after purchasing an additional 8,933,912 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after purchasing an additional 2,593,313 shares during the period. Legal & General Group Plc raised its position in shares of 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 acquiring an additional 61,413 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd raised its position in shares of Colgate-Palmolive by 4.1% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after acquiring an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC increased its stake 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. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Trading Up 1.2 %

Shares of CL stock opened at $94.65 on Tuesday. The stock has a market cap of $77.33 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a fifty-two week low of $75.17 and a fifty-two week high of $109.30. The firm’s 50 day moving average price is $99.06 and its two-hundred day moving average price is $98.55.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s 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 sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CL shares. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Barclays raised their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

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.