Wellington Management Group LLP Sells 246,439 Shares of Colgate-Palmolive Company $CL

Key Points

• Wellington Management Group reduced its Colgate-Palmolive stake by 4.6%, selling 246,439 shares and retaining 5.11 million shares worth approximately $468.6 million.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds, producing a “Moderate Buy” consensus and an average price target of $99 versus the reported share price of $90.75.
• Colgate-Palmolive exceeded quarterly earnings expectations, reporting $0.99 per share versus $0.95 expected, while revenue rose 4.9% year over year to $5.36 billion; its quarterly dividend implies an annualized yield of about 2.3%.

Wellington Management Group LLP reduced its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,111,313 shares of the company's stock after selling 246,439 shares during the period. Wellington Management Group LLP owned approximately 0.64% of Colgate-Palmolive worth $468,605,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock worth $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC grew its stake in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management grew its stake in shares of Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $26,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Analysts Set New Price Targets

CL has been the topic of a number of recent analyst reports. Citigroup raised their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Jefferies Financial Group reiterated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. UBS Group lifted their price objective on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and an average target price of $99.00.

Colgate-Palmolive Price Performance

NYSE CL opened at $90.75 on Friday. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The stock has a market cap of $72.34 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 4.24 and a beta of 0.33. The business has a 50 day simple moving average of $92.02 and a 200 day simple moving average of $90.06. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive's payout ratio is currently 84.13%.

Insider Buying and Selling

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the transaction, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the sale, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 175,191 shares of company stock valued at $16,110,903. Company insiders own 0.43% of the company's stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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