Traders Buy Large Volume of Put Options on Colgate-Palmolive (NYSE:CL)

Colgate-Palmolive Company (NYSE:CL) was the target of unusually large options trading on Thursday. Traders bought 7,944 put options on the company. This represents an increase of approximately 71% compared to the typical volume of 4,641 put options.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Barclays raised their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. UBS Group increased their price objective on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Piper Sandler cut their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Colgate-Palmolive in the fourth quarter worth about $861,670,000. Bank of New York Mellon Corp lifted its stake in Colgate-Palmolive by 172.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after purchasing an additional 7,927,238 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after buying an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth $236,682,000. Finally, Deutsche Bank AG increased its holdings in shares of Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded down $0.42 during trading on Thursday, reaching $89.53. 1,282,274 shares of the company traded hands, compared to its average volume of 6,289,997. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive has a 52 week low of $74.54 and a 52 week high of $99.33. The firm has a market capitalization of $71.64 billion, a PE ratio of 34.83, a PEG ratio of 4.56 and a beta of 0.33. The company’s 50 day moving average is $86.68 and its two-hundred day moving average is $86.17.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.82 earnings per share for the current year.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.