Wellington Management Group LLP Sells 1,367,522 Shares of Colgate-Palmolive (NYSE:CL)

Wellington Management Group LLP reduced its position in Colgate-Palmolive (NYSE:CL - Free Report) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,213,825 shares of the company's stock after selling 1,367,522 shares during the quarter. Wellington Management Group LLP owned approximately 1.86% of Colgate-Palmolive worth $1,579,347,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC lifted its holdings in Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company's stock worth $551,367,000 after buying an additional 2,955,442 shares during the last quarter. FMR LLC lifted its stake in Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company's stock worth $700,642,000 after purchasing an additional 2,674,807 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company's stock valued at $870,400,000 after purchasing an additional 2,593,313 shares in the last quarter. State Street Corp increased its stake in Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Colgate-Palmolive by 58.6% during the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company's stock worth $234,540,000 after purchasing an additional 892,706 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares of the company's stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of CL stock traded down $0.87 on Friday, hitting $94.23. 4,104,800 shares of the stock traded hands, compared to its average volume of 4,243,885. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a 1-year low of $75.50 and a 1-year high of $109.30. The company's fifty day moving average is $96.73 and its 200 day moving average is $98.61. The company has a market capitalization of $76.99 billion, a PE ratio of 27.00, a PEG ratio of 3.38 and a beta of 0.43.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive's dividend payout ratio (DPR) is 57.31%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CL. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Piper Sandler began coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 price target for the company. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating and raised their price objective for the company from $107.00 to $109.00 in a research note on Monday, September 9th. UBS Group lifted their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus price target of $105.11.

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.