Wellington Wealth Strategies LLC. Takes $1.53 Million Position in Colgate-Palmolive (NYSE:CL)

Wellington Wealth Strategies LLC. bought a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,486 shares of the company's stock, valued at approximately $1,534,000. Colgate-Palmolive accounts for about 1.5% of Wellington Wealth Strategies LLC.'s investment portfolio, making the stock its 25th biggest position.

A number of other large investors have also recently made changes to their positions in CL. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $32,000. Briaud Financial Planning Inc purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $32,000. Finally, Wintrust Investments LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth about $33,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

CL opened at $91.72 on Tuesday. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The company has a market cap of $74.33 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The firm's 50-day moving average price is $91.67 and its 200-day moving average price is $91.26.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company's revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has initiated a stock buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.27%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio is 58.76%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CL shares. Barclays lowered their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. UBS Group upped their price objective on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Morgan Stanley lowered 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. Finally, Stifel Nicolaus lowered their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $102.12.

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.

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