Geode Capital Management LLC has recently announced that it has increased stake in Colgate-Palmolive Co. (NYSE:CL) by 2.85%. After grabbing 17.96 million shares, the institutional investor is now in possession of 0.5 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 2.17% having worth around $1.28 billion. Moreover, T. Rowe Price Associates, Inc. increased its share by 13.96 million to have a control over 16.16 million shares. And JPMorgan Investment Management, I raised its holdings to 86168.0 shares by acquiring 9.61 million shares or 1.16% of the stake.
Colgate-Palmolive Co. (CL) concluded trading on 11/15/23 at a closing price of $75.47, with 4.81 million shares of worth about $362.94 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.26% during that period and on Wednesday the price saw a loss of about -1.55%. Currently the company’s common shares owned by public are about 830.21M shares, out of which, 822.22M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the CL stock and their offered price forecasts bring an average price target of $81.99. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $90.00 and could fall to a lowest price of $75.00. The stock’s current price level is 7.67% above of average price target set by the analysts, while a rise to estimated low would result in loss of -0.63% for the stock. However, touching the estimated high of $90.00 would mean a gain of 16.14% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 90 times over the past 12 months. They bought 549,109 shares in 59 of the transactions. In 31 selling transactions, insiders dumped 434,680 shares.
Vanguard Total Stock Market ETF, Vanguard Dividend Growth Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Colgate-Palmolive Co. Vanguard Total Stock Market ETF is currently holding 25.76 million shares of worth totaling $1.83 billion. The company recently came selling -0.11 million shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard Dividend Growth Fund sold -0.94 million shares, after which its hold over company’s outstanding shares shrunk to 2.46%, leaving 20.31 million shares with the mutual fund that have a worth of about $1.44 billion. Vanguard 500 Index Fund, after selling 19.87 million shares, have now control over 2.40% of the stake in the company. It holds -0.11 million shares of worth $1.41 billion.
Colgate-Palmolive Co. (NYSE: CL) started trading at $76.55, below -$0.11 from concluding price of the previous day. However, the stock later moved at a day high price of 77.05, or with a loss of -1.55%. Stock saw a price change of 0.31% in past 5 days and over the past one month there was a price change of 4.70%. Year-to-date (YTD), CL shares are showing a performance of -4.21% which increased to 1.21% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $67.62 but also hit the highest price of $82.09 during that period. The average intraday trading volume for Colgate-Palmolive Co. shares is 4.32 million. The stock is currently trading 1.64% above its 20-day simple moving average (SMA20), while that difference is up 3.75% for SMA50 and it goes to 0.70% higher than SMA200.
Geode Capital Management LLC acquired 17.96 million shares of Colgate-Palmolive Co. having value of about $1.28 billion. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 0.5 million shares in the company valued at close to $37572890.44, or have control over 2.85% stake in the company. Colgate-Palmolive Co. (NYSE: CL) currently have 830.21M outstanding shares and institutions hold larger chunk of about 82.75% of that. Holding of mutual funds in the company is about 38.21% while other institutional holders and individual stake holders have control over 44.16% and 2.91% of the stake respectively.
The stock has a current market capitalization of $62.14B and its 3Y-monthly beta is at 0.44. PE ratio of stock for trailing 12 months is 39.47, while it has posted earnings per share of $1.91 in the same period. Its PEG reads 5.27 and has Quick Ratio of 0.74. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CL, volatility over the week remained 1.34% while standing at 1.50% over the month.
Stock’s fiscal year EPS is expected to rise by 7.85% while it is estimated to increase by 7.81% in next year. EPS is likely to grow at an annualized rate of 7.49% for next 5-years, compared to annual growth of -1.37% made by the stock over the past 5-years.
Analysts at 23 brokerage firms have issued recommendations for the Colgate-Palmolive Co. (CL)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.96. Out of those 23 Wall Street analysts, 12 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on November 13, 2023 offering a Buy rating for the stock and assigned a target price of $87 to it.
