Colgate-Palmolive Company $CL Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,056,720 shares of the company’s stock after selling 2,751,011 shares during the quarter. Wellington Management Group LLP owned approximately 1.49% of Colgate-Palmolive worth $1,129,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Westend Capital Management LLC grew its position in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $31,000. Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $36,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL opened at $85.02 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 52-week low of $82.40 and a 52-week high of $109.30. The company has a 50 day moving average of $88.21 and a two-hundred day moving average of $89.99. The company has a market cap of $68.71 billion, a P/E ratio of 23.88, a P/E/G ratio of 4.42 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, July 18th. Colgate-Palmolive’s payout ratio is currently 58.43%.

Analyst Upgrades and Downgrades

CL has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Barclays lifted their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Citigroup lowered their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.92.

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.