NBT Bank N A NY Cuts Stock Holdings in Colgate-Palmolive Company $CL

NBT Bank N A NY decreased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 2.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 20,292 shares of the company’s stock after selling 455 shares during the period. NBT Bank N A NY’s holdings in Colgate-Palmolive were worth $1,845,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CL. Mirova US LLC lifted its holdings in Colgate-Palmolive by 17.2% during the second quarter. Mirova US LLC now owns 18,880 shares of the company’s stock worth $1,716,000 after acquiring an additional 2,769 shares during the period. Shell Asset Management Co. lifted its holdings in Colgate-Palmolive by 10.9% during the second quarter. Shell Asset Management Co. now owns 31,255 shares of the company’s stock worth $2,841,000 after acquiring an additional 3,078 shares during the period. Mraz Amerine & Associates Inc. bought a new stake in Colgate-Palmolive during the second quarter worth $300,000. KPP Advisory Services LLC lifted its holdings in Colgate-Palmolive by 12.3% during the second quarter. KPP Advisory Services LLC now owns 11,816 shares of the company’s stock worth $1,074,000 after acquiring an additional 1,293 shares during the period. Finally, Relyea Zuckerberg Hanson LLC lifted its holdings in Colgate-Palmolive by 3.9% during the second quarter. Relyea Zuckerberg Hanson LLC now owns 3,833 shares of the company’s stock worth $348,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CL shares. JPMorgan Chase & Co. dropped their price target on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Piper Sandler started coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target on the stock. Barclays dropped their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.23.

Colgate-Palmolive Stock Performance

Shares of CL opened at $77.96 on Thursday. The firm has a market cap of $63.01 billion, a PE ratio of 21.90, a PEG ratio of 4.11 and a beta of 0.34. The stock’s fifty day moving average price is $82.79 and its two-hundred day moving average price is $88.08. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 1 year low of $77.09 and a 1 year high of $102.61.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is 58.43%.

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.