Perigon Wealth Management LLC Sells 4,524 Shares of Colgate-Palmolive Company $CL

Perigon Wealth Management LLC lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 22.1% in the second quarter, Holdings Channel reports. The firm owned 15,968 shares of the company’s stock after selling 4,524 shares during the period. Perigon Wealth Management LLC’s holdings in Colgate-Palmolive were worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CL. Westend Capital Management LLC boosted its position in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $37,000. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CL. UBS Group cut their price target on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday. Morgan Stanley cut their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.73.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $79.57 on Friday. The business has a fifty day simple moving average of $84.19 and a 200 day simple moving average of $88.70. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market capitalization of $64.31 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 4.14 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $78.76 and a one year high of $104.16.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

About Colgate-Palmolive

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.