Colgate-Palmolive Company $CL Shares Sold by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management LLC reduced its stake in Colgate-Palmolive Company by 22.1%, selling 4,524 shares, which left them with approximately $1.45 million worth of shares.
• Several institutional investors made significant changes to their positions, with Price T. Rowe Associates increasing their stake by 18.3% and Goldman Sachs raising their holdings by 34.5%.
• The company recently reported quarterly earnings that surpassed expectations, with EPS of $0.92 and revenue of $5.11 billion, reflecting a 1.0% year-over-year increase.

Perigon Wealth Management LLC lowered its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 22.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD grew its stake in shares of Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Nuveen LLC acquired a new stake in Colgate-Palmolive during the 1st quarter worth about $217,593,000. Goldman Sachs Group Inc. raised its holdings in Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after buying an additional 2,045,191 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock worth $521,250,000 after buying an additional 1,727,105 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Colgate-Palmolive by 10,601.7% during the 1st quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock worth $103,574,000 after buying an additional 1,095,050 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on CL. Citigroup cut their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Morgan Stanley lowered their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Barclays lifted their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, UBS Group lowered their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.73.

Colgate-Palmolive Trading Down 0.2%

Shares of NYSE CL opened at $79.57 on Friday. The stock has a market cap of $64.31 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 4.14 and a beta of 0.35. The business has a 50 day simple moving average of $84.19 and a 200 day simple moving average of $88.70. Colgate-Palmolive Company has a 52 week low of $78.76 and a 52 week high of $104.16. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. On average, research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive's payout ratio is presently 58.43%.

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.

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