M&T Bank Corp Raises Stock Position in Colgate-Palmolive (NYSE:CL)

M&T Bank Corp grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 8.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 288,050 shares of the company’s stock after acquiring an additional 21,862 shares during the quarter. M&T Bank Corp’s holdings in Colgate-Palmolive were worth $29,903,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Main Street Research LLC raised its position in Colgate-Palmolive by 1.5% during the second quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock valued at $673,000 after purchasing an additional 100 shares during the period. Advisor OS LLC raised its holdings in Colgate-Palmolive by 4.5% during the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after buying an additional 101 shares during the period. BLB&B Advisors LLC lifted its position in Colgate-Palmolive by 2.5% in the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after buying an additional 104 shares during the last quarter. D Orazio & Associates Inc. boosted its stake in Colgate-Palmolive by 3.9% during the third quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock worth $297,000 after buying an additional 108 shares during the period. Finally, Fiducient Advisors LLC raised its stake in shares of Colgate-Palmolive by 5.2% in the third quarter. Fiducient Advisors LLC now owns 2,231 shares of the company’s stock valued at $232,000 after acquiring an additional 110 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 1.0 %

NYSE CL opened at $92.03 on Friday. Colgate-Palmolive has a 52 week low of $76.96 and a 52 week high of $109.30. The company has a 50 day moving average price of $95.02 and a 200 day moving average price of $98.65. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The firm has a market cap of $75.19 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.17%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. TD Cowen dropped their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 28th. UBS Group upped their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target 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 cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company reduced their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $105.11.

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.