Colgate-Palmolive (CL) Shares Sold by M&T Bank Corp
M&T Bank Corp trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 265,157 shares of the company’s stock after selling 17,386 shares during the quarter. M&T Bank Corp’s holdings in Colgate-Palmolive were worth $15,782,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Colgate-Palmolive by 1.0% during the third quarter. Vanguard Group Inc. now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after purchasing an additional 734,860 shares in the last quarter. Vanguard Group Inc increased its position in shares of Colgate-Palmolive by 1.0% during the third quarter. Vanguard Group Inc now owns 73,520,894 shares of the company’s stock worth $4,922,224,000 after purchasing an additional 734,860 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Colgate-Palmolive by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 20,359,199 shares of the company’s stock worth $1,363,050,000 after purchasing an additional 223,814 shares in the last quarter. Morgan Stanley increased its position in shares of Colgate-Palmolive by 15.0% during the third quarter. Morgan Stanley now owns 7,212,524 shares of the company’s stock worth $482,879,000 after purchasing an additional 941,008 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Colgate-Palmolive by 0.8% during the third quarter. Franklin Resources Inc. now owns 4,790,397 shares of the company’s stock worth $320,717,000 after purchasing an additional 37,145 shares in the last quarter. Hedge funds and other institutional investors own 75.21% of the company’s stock.
Several brokerages have issued reports on CL. Citigroup dropped their target price on Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating for the company in a report on Monday, October 29th. Argus dropped their target price on Colgate-Palmolive from $75.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. JPMorgan Chase & Co. cut Colgate-Palmolive from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $61.00 to $54.00 in a report on Monday, October 29th. Goldman Sachs Group upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Finally, Evercore ISI began coverage on Colgate-Palmolive in a report on Thursday, January 10th. They issued an “outperform” rating and a $70.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $65.00.
Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. As a group, equities research analysts anticipate that Colgate-Palmolive will post 2.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 23rd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, January 22nd. Colgate-Palmolive’s dividend payout ratio is presently 56.57%.
In other news, Director John T. Cahill sold 5,780 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $64.46, for a total transaction of $372,578.80. Following the completion of the transaction, the director now directly owns 27,820 shares in the company, valued at approximately $1,793,277.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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