Wellington Management Group LLP cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,111,313 shares of the company’s stock after selling 246,439 shares during the quarter. Wellington Management Group LLP’s holdings in Colgate-Palmolive were worth $468,605,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after acquiring an additional 304,426 shares in the last quarter. Morgan Stanley grew its stake in Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after purchasing an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Colgate-Palmolive by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after purchasing an additional 1,010,872 shares during the last quarter. Norges Bank bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $861,670,000. Finally, Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.
Colgate-Palmolive Stock Down 0.2%
CL opened at $90.75 on Friday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The stock’s fifty day simple moving average is $92.02 and its 200 day simple moving average is $90.06. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The stock has a market cap of $72.34 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 4.24 and a beta of 0.33.
Colgate-Palmolive Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 84.13%.
Insider Activity at Colgate-Palmolive
In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the 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 transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 175,191 shares of company stock worth $16,110,903. Insiders own 0.43% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CL. Morgan Stanley reissued an “overweight” rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research note on Monday, August 3rd. UBS Group upped their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Piper Sandler increased their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Citigroup lifted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.
View Our Latest Analysis on Colgate-Palmolive
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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