M&T Bank Corp Sells 18,286 Shares of Colgate-Palmolive Company (NYSE:CL)

M&T Bank Corp decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,652 shares of the company's stock after selling 18,286 shares during the period. M&T Bank Corp's holdings in Colgate-Palmolive were worth $25,266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Westend Capital Management LLC raised its position in Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive in the 4th quarter worth about $31,000. Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive in the 4th quarter worth about $32,000. Wintrust Investments LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $33,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

CL traded down $0.56 during trading on Wednesday, reaching $91.58. 6,034,161 shares of the company traded hands, compared to its average volume of 4,834,180. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a fifty day simple moving average of $90.66 and a 200 day simple moving average of $90.54. The company has a market cap of $74.22 billion, a P/E ratio of 25.87, a PEG ratio of 4.96 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The company's revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Colgate-Palmolive declared that its board has approved a share repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CL shares. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Citigroup upped their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Finally, Piper Sandler reduced their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.69.

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.