Diamond Hill Capital Management Inc. Has $645.72 Million Stake in Colgate-Palmolive Company $CL

Diamond Hill Capital Management Inc. increased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 46.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,077,549 shares of the company’s stock after acquiring an additional 2,572,796 shares during the quarter. Colgate-Palmolive comprises about 3.1% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Diamond Hill Capital Management Inc. owned approximately 1.00% of Colgate-Palmolive worth $645,719,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. grew its position in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares in the last quarter. Copia Wealth Management acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $29,000. Cloud Capital Management LLC bought a new position in shares of Colgate-Palmolive in the third quarter worth $30,000. Finally, MTM Investment Management LLC acquired a new position in Colgate-Palmolive in the second quarter valued at about $39,000. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CL. Argus restated a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Bank of America boosted their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley upped their target price on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Jefferies Financial Group lifted their price target on Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $94.47.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $94.48 on Friday. The stock’s 50-day moving average is $82.13 and its 200-day moving average is $81.60. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The company has a current ratio of 0.42, a quick ratio of 0.27 and a debt-to-equity ratio of 5.90. The stock has a market cap of $76.16 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 4.27 and a beta of 0.29.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the business earned $0.91 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s payout ratio is currently 79.39%.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the transaction, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

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.