M&T Bank Corp Buys 21,862 Shares of Colgate-Palmolive (NYSE:CL)

M&T Bank Corp grew its position in Colgate-Palmolive (NYSE:CL - Free Report) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,050 shares of the company's stock after acquiring an additional 21,862 shares during the period. M&T Bank Corp's holdings in Colgate-Palmolive were worth $29,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CL. M&G Plc boosted its holdings in shares of Colgate-Palmolive by 88.8% during the 2nd quarter. M&G Plc now owns 79,975 shares of the company's stock worth $7,758,000 after buying an additional 37,616 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Colgate-Palmolive by 6.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 218,937 shares of the company's stock worth $21,246,000 after buying an additional 12,988 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in shares of Colgate-Palmolive by 7.4% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 8,163 shares of the company's stock worth $792,000 after buying an additional 564 shares during the period. ORG Partners LLC boosted its holdings in shares of Colgate-Palmolive by 507.0% during the 2nd quarter. ORG Partners LLC now owns 6,422 shares of the company's stock worth $614,000 after buying an additional 5,364 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Colgate-Palmolive by 49.4% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 6,430 shares of the company's stock worth $624,000 after buying an additional 2,125 shares during the period. Institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and cut their price objective for the company from $105.00 to $101.00 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 for the company in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and boosted their target price for the company from $107.00 to $109.00 in a research report on Monday, September 9th. Finally, Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.11.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares of the company's stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

Colgate-Palmolive Trading Down 1.2 %

CL traded down $1.13 during trading on Wednesday, reaching $92.76. 3,629,384 shares of the company's stock were exchanged, compared to its average volume of 4,381,511. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30. 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 stock has a market capitalization of $75.79 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.36 and a beta of 0.43. The firm has a fifty day moving average price of $96.16 and a two-hundred day moving average price of $98.66.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.16%. Colgate-Palmolive's payout ratio is 57.31%.

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.