Colgate-Palmolive Company (NYSE:CL) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after purchasing an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $36,000. Proficio Capital Partners LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $186,000. Assetmark Inc. increased its holdings in shares of Colgate-Palmolive by 295.1% during the 4th quarter. Assetmark Inc. now owns 16,280 shares of the company's stock worth $1,480,000 after acquiring an additional 12,160 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Colgate-Palmolive by 7.4% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,620 shares of the company's stock valued at $664,000 after buying an additional 458 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CL has been the subject of several recent analyst reports. Barclays dropped their price objective 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. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. UBS Group boosted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Citigroup upped their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company increased their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a report on Wednesday, April 2nd. 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 company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus target price of $101.69.

Colgate-Palmolive Trading Down 0.4%

Shares of NYSE CL traded down $0.35 during midday trading on Thursday, reaching $91.23. 1,223,417 shares of the stock were exchanged, compared to its average volume of 4,825,985. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30. 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 company has a 50 day simple moving average of $90.65 and a 200 day simple moving average of $90.55. The stock has a market capitalization of $73.94 billion, a P/E ratio of 25.78, a PEG ratio of 4.89 and a beta of 0.37.

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

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 yield of 2.28%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Colgate-Palmolive declared that its Board of Directors has authorized a share buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership 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.