Stock Traders Buy Large Volume of Colgate-Palmolive Company Call Options (CL)
Colgate-Palmolive Company (NYSE:CL) saw some unusual options trading activity on Wednesday. Stock traders purchased 24,552 call options on the stock. This represents an increase of approximately 712% compared to the typical volume of 3,023 call options.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at 74.82 on Friday. The stock’s 50 day moving average is $72.95 and its 200 day moving average is $69.77. The firm has a market cap of $66.09 billion, a P/E ratio of 27.00 and a beta of 0.70. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $76.86.
Colgate-Palmolive Company (NYSE:CL) last announced its quarterly earnings data on Friday, April 28th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Colgate-Palmolive Company had a net margin of 16.06% and a return on equity of 4,897.09%. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts predict that Colgate-Palmolive Company will post $2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, April 19th. This is an increase from Colgate-Palmolive Company’s previous quarterly dividend of $0.39. Colgate-Palmolive Company’s dividend payout ratio is currently 57.35%.
In other Colgate-Palmolive Company news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $73.72, for a total value of $282,568.76. Following the completion of the transaction, the insider now owns 53,022 shares in the company, valued at $3,908,781.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel B. Marsili sold 14,000 shares of the company’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $73.97, for a total transaction of $1,035,580.00. Following the completion of the transaction, the vice president now owns 73,904 shares of the company’s stock, valued at approximately $5,466,678.88. The disclosure for this sale can be found here. Insiders sold 39,833 shares of company stock valued at $2,894,929 in the last 90 days. 1.05% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. American Beacon Advisors Inc. acquired a new stake in shares of Colgate-Palmolive Company during the first quarter worth $102,000. Point72 Asia Hong Kong Ltd purchased a new position in Colgate-Palmolive Company during the first quarter worth about $105,000. Advantage Investment Management LLC purchased a new position in Colgate-Palmolive Company during the fourth quarter worth about $104,000. Itau Unibanco Holding S.A. purchased a new position in Colgate-Palmolive Company during the third quarter worth about $118,000. Finally, Concannon Wealth Management LLC raised its position in Colgate-Palmolive Company by 33.8% in the third quarter. Concannon Wealth Management LLC now owns 1,605 shares of the company’s stock worth $119,000 after buying an additional 405 shares during the last quarter. 73.24% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. Citigroup Inc restated a “neutral” rating and issued a $76.00 price objective (up previously from $75.00) on shares of Colgate-Palmolive Company in a research note on Friday, April 7th. Zacks Investment Research upgraded shares of Colgate-Palmolive Company from a “sell” rating to a “hold” rating in a research note on Thursday, March 30th. B. Riley restated a “neutral” rating and issued a $74.00 price objective on shares of Colgate-Palmolive Company in a research note on Friday, February 3rd. Vetr downgraded shares of Colgate-Palmolive Company from a “hold” rating to a “sell” rating and set a $69.00 price objective for the company. in a research note on Monday, February 20th. Finally, Barclays PLC set a $75.00 price objective on shares of Colgate-Palmolive Company and gave the company a “hold” rating in a research note on Saturday, February 18th. Fourteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Colgate-Palmolive Company currently has an average rating of “Hold” and an average target price of $75.41.
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About Colgate-Palmolive Company
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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