Banco Santander S.A. Buys 129,858 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• Banco Santander S.A. significantly increased its stake in Colgate-Palmolive Company by 88% during the first quarter, acquiring an additional 129,858 shares to hold a total of 277,472 shares valued at approximately $25.99 million.
• Despite strong quarterly earnings, Colgate-Palmolive's stock recently fell 0.4%, with a market cap of $67.68 billion and a P/E ratio of 23.59.
• Colgate-Palmolive announced a quarterly dividend of $0.52 per share, which equates to an annual yield of 2.5%, with a payout ratio of 58.76%.

Banco Santander S.A. grew its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 88.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 277,472 shares of the company's stock after acquiring an additional 129,858 shares during the period. Banco Santander S.A.'s holdings in Colgate-Palmolive were worth $25,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CL. Westend Capital Management LLC lifted its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in Colgate-Palmolive during the 4th quarter worth $31,000. Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive during the 4th quarter worth $33,000. Finally, Accredited Wealth Management LLC acquired a new position in Colgate-Palmolive during the 4th quarter worth $34,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded down $0.34 during mid-day trading on Friday, hitting $83.51. 9,606,667 shares of the stock were exchanged, compared to its average volume of 4,901,203. The company has a market cap of $67.68 billion, a P/E ratio of 23.46, a PEG ratio of 4.31 and a beta of 0.35. The stock's fifty day simple moving average is $89.59 and its two-hundred day simple moving average is $90.31. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.28 and a current ratio of 0.43. Colgate-Palmolive Company has a twelve month low of $82.70 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. As a group, analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. UBS Group cut their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Citigroup upped their price objective 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. Finally, Barclays upped their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $100.58.

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.