Traders Purchase High Volume of Put Options on Colgate-Palmolive (NYSE:CL)

Colgate-Palmolive Company (NYSE:CL) was the target of unusually large options trading on Tuesday. Traders acquired 18,150 put options on the company. This is an increase of 256% compared to the average volume of 5,100 put options.

Insiders Place Their Bets

In related news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the completion of the transaction, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. This trade represents a 59.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 184,683 shares of company stock worth $17,486,693 in the last quarter. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Colgate-Palmolive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC increased its holdings in shares of Colgate-Palmolive by 0.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after buying an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in Colgate-Palmolive by 2.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after acquiring an additional 113 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Colgate-Palmolive by 0.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after purchasing an additional 114 shares during the period. Sunpointe LLC lifted its stake in shares of Colgate-Palmolive by 4.0% in the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock valued at $241,000 after purchasing an additional 117 shares in the last quarter. Finally, Tiemann Investment Advisors LLC grew its holdings in shares of Colgate-Palmolive by 2.1% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock worth $553,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CL. Rothschild & Co Redburn set a $93.00 target price on Colgate-Palmolive in a research report on Friday, February 13th. Piper Sandler boosted their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Barclays raised their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Bank of America increased their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive Stock Performance

CL traded up $0.08 during trading on Tuesday, hitting $97.18. The company’s stock had a trading volume of 1,285,437 shares, compared to its average volume of 7,246,371. The firm has a market cap of $78.33 billion, a PE ratio of 37.10, a P/E/G ratio of 4.29 and a beta of 0.29. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90. The business’s 50 day simple moving average is $85.96 and its 200-day simple moving average is $82.34. Colgate-Palmolive has a one year low of $74.54 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

Colgate-Palmolive Company Profile

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.