Colgate-Palmolive (NYSE:CL) Shares Acquired by Montecito Bank & Trust

Montecito Bank & Trust increased its stake in Colgate-Palmolive (NYSE:CL) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,001 shares of the company’s stock after acquiring an additional 681 shares during the period. Montecito Bank & Trust’s holdings in Colgate-Palmolive were worth $1,218,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CL. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $27,000. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Finally, Briaud Financial Planning Inc acquired a new position in Colgate-Palmolive during the fourth quarter valued at approximately $32,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, April 2nd. Citigroup lifted their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Price Performance

CL opened at $90.20 on Monday. 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’s 50-day moving average price is $91.75 and its 200 day moving average price is $90.99. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The firm has a market cap of $73.10 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.31%. Colgate-Palmolive’s dividend payout ratio is 58.76%.

Colgate-Palmolive declared that its board has approved a share repurchase program on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Colgate-Palmolive 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.