M&T Bank Corp Has $29.90 Million Stake in Colgate-Palmolive (NYSE:CL)

M&T Bank Corp raised its holdings in Colgate-Palmolive (NYSE:CL) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 288,050 shares of the company’s stock after acquiring an additional 21,862 shares during the period. M&T Bank Corp’s holdings in Colgate-Palmolive were worth $29,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after buying an additional 2,132,747 shares during the period. Continuum Advisory LLC boosted its position in shares of Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after buying an additional 368 shares during the period. LRI Investments LLC boosted its position in shares of Colgate-Palmolive by 75.4% during the third quarter. LRI Investments LLC now owns 5,437 shares of the company’s stock worth $564,000 after buying an additional 2,337 shares during the period. SGL Investment Advisors Inc. acquired a new position in shares of Colgate-Palmolive during the third quarter worth about $520,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Colgate-Palmolive during the third quarter worth about $2,693,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group upped their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Insider Transactions 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 stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $93.88 on Wednesday. The firm has a market cap of $76.70 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 3.36 and a beta of 0.43. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 1-year low of $75.50 and a 1-year high of $109.30. The business’s 50 day moving average is $96.33 and its 200-day moving average is $98.65.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Colgate-Palmolive 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.