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

Colgate-Palmolive Company (NYSE:CL) saw unusually large options trading on Tuesday. Investors bought 7,951 call options on the company. This represents an increase of approximately 75% compared to the average daily volume of 4,539 call options.

Institutional Investors Weigh In On Colgate-Palmolive

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter worth about $861,670,000. Bank of New York Mellon Corp increased its holdings in shares of Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after buying an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 acquiring an additional 4,598,789 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $236,682,000. Finally, Deutsche Bank AG boosted its holdings in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the topic of a number of research reports. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Trading Down 0.8%

Shares of CL opened at $91.68 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a market cap of $73.36 billion, a PE ratio of 35.67, a PEG ratio of 4.87 and a beta of 0.33. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The stock has a 50 day simple moving average of $88.36 and a 200-day simple moving average of $87.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating 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 business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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

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.