T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in Colgate-Palmolive Co. (NYSE:CL). The institutional investor has increased its shareholding in the Consumer Defensive company by 63.39% to 26.4 million shares with purchase of 10.24 million shares. This fresh investment now brings its stake to 3.21% valued currently at $2.1 billion. In addition, Geode Capital Management LLC raised its holdings by 0.47 million to 18.42 million shares. And Northern Trust Investments, Inc. has lifted its position by 2.51% or 0.2 million shares – to 8.32 million shares.
Currently, there are 830.21M common shares owned by the public and among those 822.38M shares have been available to trade.
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Insiders at the company have transacted a total of 96 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 59 of these insider trades were purchases, accounting for 581,106 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 473,903 shares.
The top 3 mutual fund holders in Colgate-Palmolive Co. are Vanguard Total Stock Market ETF, Vanguard Dividend Growth Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 25.79 million shares of the company’s stock, all valued at over $2.06 billion. The company sold -0.1 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund sold 45428.0 shares to bring its total holdings to over 20.1 million shares at a value of $1.6 billion. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
However, the script later moved the day high at 83.62, up 1.98%. The company’s stock has a 5-day price change of 3.05% and 12.83% over the past three months. CL shares are trading 3.91% year to date (YTD), with the 12-month market performance up to 9.32% higher. It has a 12-month low price of $67.62 and touched a high of $82.09 over the same period. CL has an average intraday trading volume of 4.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.03%, 5.35%, and 8.70% respectively.
Institutional ownership of Colgate-Palmolive Co. (NYSE: CL) shares accounts for 82.78% of the company’s 830.21M shares outstanding. Mutual fund holders own 39.13%, while other institutional holders and individual stakeholders account for 44.74% and 2.92% respectively.
It has a market capitalization of $68.20B and a beta (3y monthly) value of 0.41. The stock’s trailing 12-month PE ratio is 29.84, while the earnings-per-share (ttm) stands at $2.78. The company has a PEG of 3.65 and a Quick Ratio of 0.76 with the debt-to-equity ratio at 14.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.68% over the week and 1.26% over the month.
Analysts forecast that Colgate-Palmolive Co. (CL) will achieve an EPS of $Carnival Corporation for the current quarter, $15.83 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Citigroup, Inc. while analysts give the company a high EPS estimate of $CLP/USD. Comparatively, EPS for the current quarter was $Class III Milk Futures,Apr-2024 a year ago. Earnings per share for the fiscal year are expected to increase by 7.75%, and 9.31% over the next financial year. EPS should grow at an annualized rate of 8.18% over the next five years, compared to 0.15% over the past 5-year period.
Looking at the support for the CL, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on December 15, 2023, with the firm’s price target at $90.
