Montecito Bank & Trust Raises Position in Colgate-Palmolive (NYSE:CL)

Montecito Bank & Trust grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 75.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,302 shares of the company’s stock after acquiring an additional 4,851 shares during the quarter. Montecito Bank & Trust’s holdings in Colgate-Palmolive were worth $1,173,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Colgate-Palmolive during the second quarter worth $25,000. Continuum Advisory LLC raised its holdings in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter worth $42,000. Gradient Investments LLC lifted its holdings in shares of Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after buying an additional 400 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in Colgate-Palmolive during the second quarter worth about $68,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Down 4.3 %

Colgate-Palmolive stock opened at $90.21 on Thursday. The stock has a market capitalization of $73.70 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.33 and a beta of 0.42. Colgate-Palmolive has a twelve month low of $74.67 and a twelve month high of $109.30. The company has a 50 day moving average of $101.49 and a 200-day moving average of $98.39. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.22%. Colgate-Palmolive’s payout ratio is presently 57.31%.

Analyst Ratings Changes

CL has been the topic of a number of recent research reports. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Wednesday. TD Cowen lowered their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, UBS Group lifted their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

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.