Diamond Hill Capital Management Inc. Invests $348.72 Million in Colgate-Palmolive (NYSE:CL)

Diamond Hill Capital Management Inc. bought a new position in Colgate-Palmolive (NYSE:CL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,835,863 shares of the company’s stock, valued at approximately $348,718,000. Colgate-Palmolive makes up about 1.5% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Diamond Hill Capital Management Inc. owned 0.47% of Colgate-Palmolive at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. Briaud Financial Planning Inc bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $32,000. Finally, Wintrust Investments LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CL shares. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus cut their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Piper Sandler cut their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Barclays cut their target price on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company cut their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.61.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $90.41 on Friday. The company has a market cap of $73.37 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The business has a 50 day moving average price of $89.03 and a 200-day moving average price of $94.93. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the prior year, the firm earned $0.87 earnings per share. Equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

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.