Montecito Bank & Trust Buys Shares of 14,974 Colgate-Palmolive Company $CL

Montecito Bank & Trust purchased a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,974 shares of the company’s stock, valued at approximately $1,197,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CL. Westside Investment Management Inc. increased its holdings in Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares in the last quarter. Saudi Central Bank purchased a new position in Colgate-Palmolive in the 1st quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in Colgate-Palmolive during the first quarter worth $33,000. Finally, MTM Investment Management LLC acquired a new stake in Colgate-Palmolive in the second quarter valued at $39,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 2.5%

Shares of NYSE CL opened at $77.73 on Friday. The firm has a market cap of $62.66 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 5.68 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The firm’s 50 day moving average price is $78.31 and its 200 day moving average price is $83.22.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI decreased their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Barclays dropped their price objective on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $88.81.

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.