The Vanguard Group, Inc. has recently announced that it has increased stake in Colgate-Palmolive Company (NYSE:CL) by 0.66%. After grabbing 74.25 million shares, the institutional investor is now in possession of 0.49 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 8.89% having worth around $5.48 billion. Moreover, Geode Capital Management LLC increased its share by 0.43 million to have a control over 15.9 million shares.
Colgate-Palmolive Company (CL) concluded trading on 11/17/22 at a closing price of $75.29, with 4.62 million shares of worth about $347.71 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.23% during that period and on Thursday the price saw a loss of about -0.95%. Currently the company’s common shares owned by public are about 835.70M shares, out of which, 834.39M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the CL stock and their offered price forecasts bring an average price target of $80.28. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $85.00 and could fall to a lowest price of $66.00. The stock’s current price level is 5.12% above of average price target set by the analysts, while a rise to estimated low would result in loss of -14.08% for the stock. However, touching the estimated high of $85.00 would mean a gain of 11.42% 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 81 times over the past 12 months. They bought 668,174 shares in 44 of the transactions. In 37 selling transactions, insiders dumped 577,891 shares.
Vanguard Total Stock Market Index, Vanguard Dividend Growth Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Colgate-Palmolive Company Vanguard Total Stock Market Index is currently holding 24.89 million shares of worth totaling $1.84 billion. The company recently came buying 41356.0 shares which brought its stake up to 2.98% of the company’s outstanding shares. Vanguard Dividend Growth Fund sold -0.62 million shares, after which its hold over company’s outstanding shares shrunk to 2.80%, leaving 23.37 million shares with the mutual fund that have a worth of about $1.73 billion. Vanguard 500 Index Fund, after buying 18.9 million shares, have now control over 2.26% of the stake in the company. It holds 76413.0 shares of worth $1.4 billion.
Colgate-Palmolive Company (NYSE: CL) started trading at $75.85, below -$0.16 from concluding price of the previous day. However, the stock later moved at a day high price of 76.25, or with a loss of -0.95%. Stock saw a price change of 0.43% in past 5 days and over the past one month there was a price change of 4.93%. Year-to-date (YTD), CL shares are showing a performance of -11.78% which decreased to -2.95% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $67.84 but also hit the highest price of $85.61 during that period. The average intraday trading volume for Colgate-Palmolive Company shares is 4.24 million. The stock is currently trading 2.44% above its 20-day simple moving average (SMA20), while that difference is up 2.74% for SMA50 and it goes to -2.32% lower than SMA200.
The Vanguard Group, Inc. acquired 74.25 million shares of Colgate-Palmolive Company having value of about $5.48 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.49 million shares in the company valued at close to $36692882.66, or have control over 0.66% stake in the company. Colgate-Palmolive Company (NYSE: CL) currently have 835.70M outstanding shares and institutions hold larger chunk of about 78.80% of that. Holding of mutual funds in the company is about 36.28% while other institutional holders and individual stake holders have control over 42.72% and 2.86% of the stake respectively.
The stock has a current market capitalization of $63.22B and its 3Y-monthly beta is at 0.51. PE ratio of stock for trailing 12 months is 32.83, while it has posted earnings per share of $2.29 in the same period. Its PEG reads 15.44 and has Quick Ratio of 0.70 while making debt-to-equity ratio of 13.26. 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 1.82% while standing at 1.86% over the month.
Analysts are in expectations that Colgate-Palmolive Company (CL) stock would likely to be making an EPS of $0.73 in the current quarter, while forecast for next quarter EPS is $0.8 and it is $3.22 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.69 which is $0.76 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.81 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -18.60% while it is estimated to increase by 6.36% in next year. EPS is likely to grow at an annualized rate of 2.13% for next 5-years, compared to annual growth of -1.20% made by the stock over the past 5-years.
Analysts at 22 brokerage firms have issued recommendations for the Colgate-Palmolive Company (CL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 22 Wall Street analysts, 8 recommended a “Buy” rating, while 14 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 JP Morgan on October 13, 2022 offering an Overweight rating for the stock and assigned a target price of $79 to it. Coverage by Wells Fargo stated Colgate-Palmolive Company (CL) stock as an Equal weight in their note to investors on August 01, 2022, suggesting a price target of $80 for the stock. Stock get a Mkt perform rating from Bernstein on February 02, 2022.