M&T Bank Corp lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,534 shares of the company’s stock after selling 23,902 shares during the period. M&T Bank Corp’s holdings in Colgate-Palmolive were worth $14,545,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Advisory Alpha LLC acquired a new stake in Colgate-Palmolive during the first quarter worth approximately $26,000. Balentine LLC purchased a new position in Colgate-Palmolive during the first quarter worth approximately $36,000. Golden State Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $40,000. Paragon Capital Management LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $42,000. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter valued at $45,000. 77.13% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive stock opened at $77.20 on Friday. The firm’s 50 day simple moving average is $73.69 and its 200-day simple moving average is $71.47. The company has a market cap of $66.12 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 4.76 and a beta of 0.60. The company has a debt-to-equity ratio of 21.51, a current ratio of 0.96 and a quick ratio of 0.66. Colgate-Palmolive has a fifty-two week low of $58.49 and a fifty-two week high of $77.46.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, July 17th. Colgate-Palmolive’s payout ratio is 62.19%.
In other news, Director Michael B. Polk sold 3,115 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $68.08, for a total value of $212,069.20. Following the completion of the sale, the director now directly owns 20,622 shares in the company, valued at $1,403,945.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is currently owned by insiders.
A number of brokerages have recently commented on CL. TheStreet downgraded shares of Colgate-Palmolive from a “b” rating to a “c+” rating in a research note on Friday, May 1st. SunTrust Banks raised their price target on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, May 15th. Royal Bank of Canada reaffirmed a “buy” rating and set a $88.00 price target on shares of Colgate-Palmolive in a report on Thursday. Morgan Stanley lowered shares of Colgate-Palmolive from an “overweight” rating to an “equal weight” rating and set a $78.00 price objective for the company. in a report on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued a “sell” rating and set a $67.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $74.92.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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