Wellington Management Group LLP Has $1.13 Billion Stock Position in Colgate-Palmolive Company $CL

Key Points

• Wellington Management Group LLP reduced its stake in Colgate-Palmolive by 18.6% during the first quarter, owning approximately 1.49% of the company valued at over $1.1 billion after the sale.
• Colgate-Palmolive reported earnings per share of $0.92 for the latest quarter, surpassing analyst expectations of $0.89, with a year-over-year revenue increase of 1.0%.
• The company's recent quarterly dividend of $0.52 per share resulted in an annual yield of 2.4%, with a payout ratio of 58.43%.

Wellington Management Group LLP lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 18.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,056,720 shares of the company's stock after selling 2,751,011 shares during the quarter. Wellington Management Group LLP owned about 1.49% of Colgate-Palmolive worth $1,129,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Qtron Investments LLC increased its position in Colgate-Palmolive by 5.5% during the first quarter. Qtron Investments LLC now owns 18,173 shares of the company's stock worth $1,703,000 after acquiring an additional 953 shares during the period. Aptus Capital Advisors LLC increased its position in Colgate-Palmolive by 24.3% during the first quarter. Aptus Capital Advisors LLC now owns 21,986 shares of the company's stock worth $2,060,000 after acquiring an additional 4,296 shares during the period. Summit Securities Group LLC bought a new position in Colgate-Palmolive during the first quarter worth $136,000. Freestone Capital Holdings LLC increased its position in Colgate-Palmolive by 2.4% during the first quarter. Freestone Capital Holdings LLC now owns 43,190 shares of the company's stock worth $4,047,000 after acquiring an additional 1,004 shares during the period. Finally, Algert Global LLC increased its position in Colgate-Palmolive by 32.1% during the first quarter. Algert Global LLC now owns 67,176 shares of the company's stock worth $6,294,000 after acquiring an additional 16,338 shares during the period. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded down $0.5010 on Friday, hitting $85.7790. The stock had a trading volume of 4,087,413 shares, compared to its average volume of 5,056,872. Colgate-Palmolive Company has a twelve month low of $82.40 and a twelve month high of $109.30. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The firm's 50 day moving average price is $87.60 and its 200-day moving average price is $89.91. The company has a market capitalization of $69.33 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 4.49 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend 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

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Citigroup lowered their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Barclays boosted their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, UBS Group lowered their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and an average price target of $98.92.

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.