Diamond Hill Capital Management LLC Investment Advisor Has $380.66 Million Position in Colgate-Palmolive Company $CL

Diamond Hill Capital Management LLC Investment Advisor trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 23.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,152,036 shares of the company’s stock after selling 1,254,542 shares during the period. Colgate-Palmolive makes up approximately 3.0% of Diamond Hill Capital Management LLC Investment Advisor’s investment portfolio, making the stock its 4th largest position. Diamond Hill Capital Management LLC Investment Advisor’s holdings in Colgate-Palmolive were worth $380,659,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CL. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC increased its stake in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. TD Capital Management LLC raised its position in Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management lifted its stake in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $26,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer directly owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Down 0.1%

Shares of NYSE CL opened at $91.90 on Monday. The company has a 50 day simple moving average of $91.67 and a 200 day simple moving average of $90.02. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a market cap of $73.26 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 4.48 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. On average, research analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, July 20th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 84.13%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CL. Barclays lifted their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. UBS Group raised their price objective on Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Jefferies Financial Group reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, August 3rd. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.