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

Colgate-Palmolive Company (NYSE:CL) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 13,701 put options on the stock. This represents an increase of approximately 171% compared to the average volume of 5,065 put options.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $84.19 on Wednesday. The company has a market capitalization of $67.55 billion, a PE ratio of 32.13, a P/E/G ratio of 4.18 and a beta of 0.34. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. The company has a 50-day simple moving average of $90.60 and a two-hundred day simple moving average of $83.67. Colgate-Palmolive has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Research analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be given a $0.53 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s payout ratio is currently 79.39%.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the sale, the chief financial officer owned 55,310 shares in the company, valued at $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 184,683 shares of company stock worth $17,486,693. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

A number of large investors have recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive in the 4th quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC boosted its position in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after purchasing an additional 150 shares in the last quarter. TD Capital Management LLC boosted its position in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management raised its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the period. Finally, Jessup Wealth Management Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $100.00 target price on shares of Colgate-Palmolive in a report on Friday, February 20th. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Wells Fargo & Company dropped their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Finally, Bank of America dropped their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.56.

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.