Diamond Hill Capital Management Inc. Has $571.58 Million Stock Holdings in Colgate-Palmolive Company $CL

Diamond Hill Capital Management Inc. reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,233,374 shares of the company’s stock after selling 844,175 shares during the quarter. Colgate-Palmolive makes up about 2.9% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its 5th largest position. Diamond Hill Capital Management Inc.’s holdings in Colgate-Palmolive were worth $571,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Maseco LLP bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $27,000. Copia Wealth Management bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $29,000. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $30,000. Global Wealth Strategies & Associates increased its stake in shares of Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of CL opened at $90.48 on Friday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The stock has a 50 day simple moving average of $86.08 and a 200 day simple moving average of $85.11. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market capitalization of $72.59 billion, a PE ratio of 35.21, a P/E/G ratio of 4.69 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the firm earned $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were given a $0.53 dividend. The ex-dividend date was Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 82.49%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Barclays upped their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Jefferies Financial Group upped 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. Piper Sandler lowered their price target on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Finally, Bank of America lowered their price target on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.88.

About Colgate-Palmolive

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.