Diamond Hill Capital Management Inc. Has $521.25 Million Stake in Colgate-Palmolive Company (NYSE:CL)

Diamond Hill Capital Management Inc. increased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 45.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,562,968 shares of the company's stock after purchasing an additional 1,727,105 shares during the period. Colgate-Palmolive makes up approximately 2.4% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 8th biggest position. Diamond Hill Capital Management Inc. owned 0.69% of Colgate-Palmolive worth $521,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CL. Personal CFO Solutions LLC bought a new position in Colgate-Palmolive during the 1st quarter valued at about $285,000. Aviva PLC lifted its stake in Colgate-Palmolive by 13.4% during the 4th quarter. Aviva PLC now owns 973,421 shares of the company's stock valued at $88,494,000 after acquiring an additional 114,855 shares during the period. Vision Capital Management Inc. bought a new position in Colgate-Palmolive during the 1st quarter valued at about $322,000. Autumn Glory Partners LLC lifted its stake in Colgate-Palmolive by 67.4% during the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after acquiring an additional 3,586 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Colgate-Palmolive during the 1st quarter valued at about $2,166,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

CL traded down $0.52 during trading on Friday, reaching $87.93. 3,186,104 shares of the company traded hands, compared to its average volume of 4,561,019. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a fifty day simple moving average of $90.24 and a 200 day simple moving average of $90.37. The company has a market cap of $71.26 billion, a P/E ratio of 24.84, a PEG ratio of 4.53 and a beta of 0.37.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Analysts Set New Price Targets

CL has been the topic of several research analyst reports. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. Barclays increased their price objective on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $100.77.

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.