M&T Bank Corp Acquires 14,613 Shares of Colgate-Palmolive Company $CL

M&T Bank Corp boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 284,265 shares of the company's stock after acquiring an additional 14,613 shares during the period. M&T Bank Corp's holdings in Colgate-Palmolive were worth $25,840,000 as of its most recent filing with the SEC.

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A number of other institutional investors and hedge funds also recently modified their holdings of CL. Norges Bank bought a new stake in Colgate-Palmolive in the second quarter valued at approximately $960,390,000. Price T Rowe Associates Inc. MD boosted its position in shares of Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after purchasing an additional 5,269,140 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Colgate-Palmolive by 242.3% in the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company's stock valued at $483,962,000 after buying an additional 3,768,784 shares during the period. Nuveen LLC bought a new stake in shares of Colgate-Palmolive in the 1st quarter valued at $217,593,000. Finally, Goldman Sachs Group Inc. raised its stake in Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after buying an additional 2,045,191 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $78.71 on Wednesday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The company's fifty day simple moving average is $78.55 and its 200-day simple moving average is $84.28. The firm has a market cap of $63.45 billion, a PE ratio of 22.05, a P/E/G ratio of 5.69 and a beta of 0.30. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90.

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Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the business earned $0.91 EPS. The company's revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive's dividend payout ratio is presently 58.26%.

Wall Street Analyst Weigh In

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A number of research firms have issued reports on CL. The Goldman Sachs Group decreased their target price on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $80.00 to $77.00 and set an "underweight" rating on the stock in a report on Monday, November 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Evercore ISI dropped their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an "outperform" rating on the stock in a report on Monday, November 3rd. Finally, UBS Group cut their price target on shares of Colgate-Palmolive from $92.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.87.

Read Our Latest Stock Report on CL

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.

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