Perigon Wealth Management LLC Sells 13,185 Shares of Colgate-Palmolive Company (NYSE:CL)

Perigon Wealth Management LLC decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 39.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 20,492 shares of the company's stock after selling 13,185 shares during the period. Perigon Wealth Management LLC's holdings in Colgate-Palmolive were worth $1,920,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Colgate-Palmolive in the fourth quarter valued at $26,000. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive during the fourth quarter valued at $31,000. Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive during the fourth quarter valued at $32,000. Wintrust Investments LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at $33,000. Finally, Accredited Wealth Management LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at $34,000. Institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CL shares. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Citigroup raised their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Barclays lowered their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, UBS Group lifted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $101.69.

Colgate-Palmolive Stock Up 1.2%

Colgate-Palmolive stock opened at $88.80 on Friday. The stock has a market cap of $71.97 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 4.66 and a beta of 0.38. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. The stock has a fifty day moving average of $90.86 and a 200 day moving average of $90.60. Colgate-Palmolive Company has a one year low of $85.32 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.76%.

Colgate-Palmolive declared that its Board of Directors has approved a share buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.

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