M&T Bank Corp Increases Holdings in Colgate-Palmolive (NYSE:CL)

M&T Bank Corp grew its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 288,050 shares of the company's stock after purchasing an additional 21,862 shares during the period. M&T Bank Corp's holdings in Colgate-Palmolive were worth $29,903,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Calamos Wealth Management LLC bought a new position in Colgate-Palmolive in the second quarter worth $356,000. AMG National Trust Bank increased its stake in shares of Colgate-Palmolive by 3.4% in the 2nd quarter. AMG National Trust Bank now owns 30,196 shares of the company's stock worth $2,930,000 after acquiring an additional 983 shares in the last quarter. Catalyst Financial Partners LLC lifted its position in Colgate-Palmolive by 10.9% during the 2nd quarter. Catalyst Financial Partners LLC now owns 2,862 shares of the company's stock valued at $278,000 after acquiring an additional 281 shares during the period. Alpha Omega Wealth Management LLC bought a new stake in Colgate-Palmolive during the second quarter worth about $202,000. Finally, Atomi Financial Group Inc. grew its holdings in Colgate-Palmolive by 19.7% in the second quarter. Atomi Financial Group Inc. now owns 5,403 shares of the company's stock worth $524,000 after purchasing an additional 888 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

CL opened at $92.03 on Friday. The company's 50 day moving average is $95.02 and its 200 day moving average is $98.65. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The company has a market cap of $75.19 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.31 and a beta of 0.43. Colgate-Palmolive has a 12-month low of $76.96 and a 12-month high of $109.30.

Colgate-Palmolive Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CL shares. Piper Sandler began coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an "overweight" rating and a $121.00 price target on the stock. UBS Group boosted their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a report on Monday, October 28th. TD Cowen cut their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and raised their price objective for the company from $107.00 to $109.00 in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Hold" and an average target price of $105.11.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares of the company's stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company's stock.

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.