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 $1,968,930 were sold by Daniels Jennifer on May 19. At $79.70 per share, Daniels Jennifer sold 24,703 shares. The insider’s holdings dropped to 52,769 shares worth approximately $4.02 million following the completion of this transaction.
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Also, Massey Sally sold 14,594 shares, netting a total of over 1,190,141 in proceeds. Following the sale of shares at $81.55 each, the insider now holds 8,615 shares.
Before that, Tsourapas Panagiotis had sold 13,698 shares from its account. In a trade valued at $1,110,579, the Grp Pres, Eur& Developing Mkts traded Colgate-Palmolive Company shares for $81.08 each. Upon closing the transaction, the insider’s holdings decreased to 13,698 shares, worth approximately $0.53 million.
Analyzing CL Stock Performance
On Thursday, Colgate-Palmolive Company [NYSE: CL] plunged -0.30% to $76.25. The stock’s lowest price that day was $75.535, but it reached a high of $76.63 in the same session. During the last five days, there has been a drop of approximately -4.32%. Over the course of the year, Colgate-Palmolive Company shares have dropped approximately -3.22%. Shares of the company reached a 52-week high of $82.09 on 05/15/23 and a 52-week low of $70.92 on 03/09/23. A 50-day SMA is recorded $77.05, while a 200-day SMA reached $75.94. Nevertheless, trading volume fell to 5.97 million shares from 7.58 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 75.65, which, if violated, would cause prices to drop to 75.04. In the upper region, resistance lies at 76.74. The next price resistance is at 77.23. RSI (Relative Strength Index) is 34.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.14, which suggests the price will decrease in the coming days. Percent R is at 89.09%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Colgate-Palmolive Company subject to short interest?
Stocks of Colgate-Palmolive Company saw a sharp rise in short interest on May 14, 2023 jumping by 3.39 million shares to 14.0 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 10.61 million shares. A jump of 24.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.44.
Which companies own the most shares of Colgate-Palmolive Company (CL)?
According to The Vanguard Group, Inc. filings, the company currently owns 76,817,169 shares, which is about 9.25% of the total CL shares outstanding. The investor’s shares have appreciated by 12,353 from its previous 13-F filing of 76804816.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $3,854,422,114. BlackRock Fund Advisors reduced a -2.33% interest valued at $3.27 billion while Wellington Management Co. LLP sold a -1,169,592 stake. A total of 112,177 shares of Colgate-Palmolive Company were sold by Geode Capital Management LLC during the quarter, and -3,311,384 were sold by Massachusetts Financial Services. In its current portfolio, First Eagle Investment Management holds 11,092,086 shares valued at $885.15 million.
In terms of Colgate-Palmolive Company share price expectations, FactSet research, analysts set an average price target of $85.22 in the next 12 months, up nearly 10.49% from the previous closing price of $76.48. Analysts anticipate Colgate-Palmolive Company stock to reach $96.00 by 2023, with the lowest price target being $67.00. In spite of this, 23 analysts ranked Colgate-Palmolive Company stock as an Overweight at the end of 2023.