NBT Bank N A NY Reduces Stock Position in Colgate-Palmolive Company $CL

NBT Bank N A NY cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 33.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,439 shares of the company’s stock after selling 6,853 shares during the quarter. NBT Bank N A NY’s holdings in Colgate-Palmolive were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Arlington Trust Co LLC increased its position in Colgate-Palmolive by 9.7% during the third quarter. Arlington Trust Co LLC now owns 2,808 shares of the company’s stock valued at $224,000 after acquiring an additional 249 shares during the last quarter. Csenge Advisory Group grew its stake in shares of Colgate-Palmolive by 7.5% during the 3rd quarter. Csenge Advisory Group now owns 3,531 shares of the company’s stock valued at $282,000 after purchasing an additional 246 shares during the period. Fiduciary Wealth Partners LLC increased its position in shares of Colgate-Palmolive by 349.2% during the 3rd quarter. Fiduciary Wealth Partners LLC now owns 2,731 shares of the company’s stock valued at $218,000 after purchasing an additional 2,123 shares during the last quarter. Alliance Wealth Management Group lifted its stake in shares of Colgate-Palmolive by 1,243.6% in the 3rd quarter. Alliance Wealth Management Group now owns 64,117 shares of the company’s stock worth $5,125,000 after purchasing an additional 59,345 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Colgate-Palmolive in the third quarter worth approximately $1,403,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America reduced their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Citigroup reduced their price objective on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Morgan Stanley lowered their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Evercore ISI reduced their price target on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, Jefferies Financial Group set a $85.00 price objective on Colgate-Palmolive in a research report on Tuesday, December 16th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $84.49 on Friday. The stock has a 50-day moving average price of $79.39 and a 200 day moving average price of $81.74. The stock has a market capitalization of $68.10 billion, a P/E ratio of 23.67, a P/E/G ratio of 5.73 and a beta of 0.30. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is currently 58.26%.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.