Trustco Bank Corp N Y Has $987,000 Position in Colgate-Palmolive (NYSE:CL)

Trustco Bank Corp N Y reduced its holdings in Colgate-Palmolive (NYSE:CL) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,862 shares of the company’s stock after selling 1,496 shares during the quarter. Colgate-Palmolive comprises 1.1% of Trustco Bank Corp N Y’s portfolio, making the stock its 28th biggest holding. Trustco Bank Corp N Y’s holdings in Colgate-Palmolive were worth $987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock valued at $7,391,261,000 after purchasing an additional 588,230 shares during the period. Geode Capital Management LLC boosted its holdings in Colgate-Palmolive by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company’s stock valued at $1,868,723,000 after purchasing an additional 324,683 shares during the period. Norges Bank bought a new stake in Colgate-Palmolive in the 4th quarter valued at $912,375,000. Northern Trust Corp boosted its holdings in Colgate-Palmolive by 11.7% in the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company’s stock valued at $863,447,000 after purchasing an additional 993,328 shares during the period. Finally, Amundi boosted its holdings in Colgate-Palmolive by 12.8% in the 4th quarter. Amundi now owns 9,200,144 shares of the company’s stock valued at $806,015,000 after purchasing an additional 1,040,604 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 1.8%

Shares of Colgate-Palmolive stock opened at $91.26 on Monday. The stock has a market capitalization of $73.96 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The company has a 50-day simple moving average of $91.65 and a 200 day simple moving average of $91.27. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.86 EPS. Research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.76%.

Colgate-Palmolive announced that its board has authorized a stock repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. Stifel Nicolaus reduced their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Barclays dropped their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Company 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.