Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Colgate-Palmolive Company shares valued at $3,966,905 were sold by Wallace Noel R. on Jun 06. At $79.34 per share, Wallace Noel R. sold 50,000 shares. The insider’s holdings dropped to 221,790 shares worth approximately $17.94 million following the completion of this transaction.
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Also, Kooyman John W sold 19,683 shares, netting a total of over 1,544,990 in proceeds. Following the sale of shares at $78.49 each, the insider now holds 7,007 shares.
Before that, Shotts Philip G. had sold 10,000 shares from its account. In a trade valued at $785,190, the Vice President and Controller traded Colgate-Palmolive Company shares for $78.52 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $3.73 million.
As published in a research note from Wells Fargo on August 01, 2022, Colgate-Palmolive Company [CL] has been rated up from an Underweight to an Equal weight and the price target has been revised to $80 from $71. This represents a -1.11% premium over Thursday’s closing price. Analysts at Atlantic Equities downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early May. As of April 08, 2022, Raymond James has initiated its “Mkt perform” rating for CL. Earlier on February 02, 2022, Bernstein upgraded its rating. Their new recommendation was “a Mkt perform” for CL stock which previously was a “an Underperform”.
Analyzing CL’s Price Performance
On Thursday, Colgate-Palmolive Company [NYSE: CL] plunged -0.66% to $80.89. The stock’s lowest price that day was $80.46, but it reached a high of $81.52 in the same session. During the last five days, there has been a surge of approximately 2.15%. Over the course of the year, Colgate-Palmolive Company shares have dropped approximately -5.21%. Shares of the company reached a 52-week high of $85.61 on 01/06/22 and a 52-week low of $72.20 on 03/18/22. A 50-day SMA is recorded $78.32, while a 200-day SMA reached $78.72. Nevertheless, trading volume fell to 2.73 million shares from 3.59 million shares the previous day.
Support And Resistance Levels for Colgate-Palmolive Company (CL)
According to the 24-hour chart, there is a support level at 80.39, which, if violated, would cause prices to drop to 79.90. In the upper region, resistance lies at 81.45. The next price resistance is at 82.02. RSI (Relative Strength Index) is 59.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.24, which suggests the price will increase in the coming days. Percent R is at 13.24%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Colgate-Palmolive Company subject to short interest?
Stocks of Colgate-Palmolive Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.57 million shares to 10.06 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.63 million shares. A decline of -25.55% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.17 of the overall float, the days-to-cover ratio (short ratio) decline to 2.17.
Which companies own the most shares of Colgate-Palmolive Company (CL)?
According to The Vanguard Group, Inc. filings, the company currently owns 73,765,250 shares, which is about 8.80% of the total CL shares outstanding. The investor’s shares have appreciated by 505,137 from its previous 13-F filing of 73260113.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $3,975,069,499. Wellington Management Co. LLP acquire a 1.17% interest valued at $3.35 billion while BlackRock Fund Advisors purchased a 200,857 stake. A total of -1,717,923 shares of Colgate-Palmolive Company were bought by Massachusetts Financial Services during the quarter, and 125,607 were bought by Geode Capital Management LLC. In its current portfolio, First Eagle Investment Management holds 11,296,801 shares valued at $905.33 million.
In terms of Colgate-Palmolive Company share price expectations, FactSet research, analysts set an average price target of $82.67 in the next 12 months, up nearly 0.7% from the previous closing price of $81.43. Analysts anticipate Colgate-Palmolive Company stock to reach $91.00 by 2022, with the lowest price target being $68.00. In spite of this, 23 analysts ranked Colgate-Palmolive Company stock as an Overweight at the end of 2022. On January 31, 2022, Wells Fargo assigned a price target of “an Underweight” to the stock and reiterated coverage with a $76.