Perigon Wealth Management LLC Decreases Stake in Colgate-Palmolive (NYSE:CL)

Perigon Wealth Management LLC lowered its position in Colgate-Palmolive (NYSE:CL) by 24.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,574 shares of the company’s stock after selling 2,435 shares during the quarter. Perigon Wealth Management LLC’s holdings in Colgate-Palmolive were worth $543,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lipe & Dalton purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $29,000. Meridian Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $29,000. Princeton Global Asset Management LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $43,000. Manchester Financial Inc. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $46,000. Finally, First Bank & Trust acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $55,000. Institutional investors own 75.83% of the company’s stock.

A number of equities analysts have recently commented on the stock. Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the company a “buy” rating in a report on Friday, July 12th. Macquarie lifted their target price on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, April 29th. UBS Group lifted their target price on shares of Colgate-Palmolive from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 29th. Citigroup lifted their target price on shares of Colgate-Palmolive from $77.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Jefferies Financial Group lifted their target price on shares of Colgate-Palmolive from $61.00 to $73.00 and gave the company an “in-line” rating in a report on Monday, April 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $73.87.

In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 33,854 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total value of $2,486,576.30. Following the transaction, the chief financial officer now directly owns 73,693 shares of the company’s stock, valued at approximately $5,412,750.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ian M. Cook sold 19,500 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $69.92, for a total transaction of $1,363,440.00. Following the completion of the transaction, the insider now directly owns 1,186,042 shares in the company, valued at $82,928,056.64. The disclosure for this sale can be found here. Insiders sold a total of 564,285 shares of company stock worth $40,530,290 over the last three months. 1.14% of the stock is currently owned by corporate insiders.

CL traded down $0.13 during trading on Tuesday, hitting $72.95. The stock had a trading volume of 49,003 shares, compared to its average volume of 3,853,501. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.78 and a current ratio of 1.13. The firm has a market capitalization of $62.02 billion, a P/E ratio of 24.56, a PEG ratio of 4.65 and a beta of 0.76. The company’s 50-day moving average price is $72.59 and its 200 day moving average price is $69.95. Colgate-Palmolive has a twelve month low of $57.41 and a twelve month high of $76.41.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Colgate-Palmolive had a net margin of 14.77% and a negative return on equity of 10,821.98%. Colgate-Palmolive’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. As a group, equities analysts expect that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 18th were paid a $0.43 dividend. The ex-dividend date was Wednesday, July 17th. This represents a $1.72 annualized dividend and a yield of 2.36%. Colgate-Palmolive’s dividend payout ratio is currently 57.91%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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