Colgate-Palmolive Sees Unusually Large Options Volume (NYSE:CL)

Colgate-Palmolive Company (NYSE:CL) was the target of unusually large options trading on Tuesday. Stock investors purchased 7,951 call options on the company. This is an increase of 75% compared to the average daily volume of 4,539 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CL shares. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. TD Cowen reissued a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $102.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Stock Down 1.2%

Shares of NYSE CL traded down $1.10 during trading on Tuesday, reaching $91.30. 490,075 shares of the stock were exchanged, compared to its average volume of 6,246,642. The company has a market capitalization of $73.05 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 4.85 and a beta of 0.33. The business’s 50-day moving average price is $88.24 and its 200 day moving average price is $87.23. 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 twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $0.91 EPS. Colgate-Palmolive’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Colgate-Palmolive will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Hedge Funds Weigh In On Colgate-Palmolive

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after buying an additional 1,026,985 shares during the period. Geode Capital Management LLC increased its position in shares of Colgate-Palmolive by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares during the period. Morgan Stanley raised its holdings in shares of Colgate-Palmolive by 1.7% in the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after purchasing an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 period. Finally, Norges Bank acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $861,670,000. 80.41% of the stock is owned by institutional investors.

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.