Montecito Bank & Trust Purchases 4,851 Shares of Colgate-Palmolive (NYSE:CL)

Montecito Bank & Trust grew its holdings in Colgate-Palmolive (NYSE:CL) by 75.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,302 shares of the company’s stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Colgate-Palmolive in the second quarter worth about $25,000. Continuum Advisory LLC lifted its stake in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the third quarter valued at approximately $42,000. Gradient Investments LLC boosted its position in Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in Colgate-Palmolive in the 2nd quarter valued at approximately $68,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CL shares. Citigroup boosted their price target on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Sanford C. Bernstein upped their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the company from $107.00 to $109.00 in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Price Performance

CL opened at $90.21 on Thursday. The stock’s 50 day simple moving average is $101.49 and its 200 day simple moving average is $98.39. The firm has a market cap of $73.70 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.33 and a beta of 0.42. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a 1 year low of $74.67 and a 1 year high of $109.30.

Colgate-Palmolive Dividend Announcement

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

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

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.