Colgate-Palmolive Target of Unusually Large Options Trading (NYSE:CL)
Colgate-Palmolive Company (NYSE:CL) was the target of unusually large options trading activity on Thursday. Traders acquired 11,545 put options on the stock. This is an increase of approximately 508% compared to the typical daily volume of 1,900 put options.
Several equities research analysts have recently weighed in on CL shares. Zacks Investment Research raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Thursday, March 30th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $76.00 target price (up previously from $75.00) on shares of Colgate-Palmolive in a report on Friday, April 7th. Jefferies Group LLC started coverage on shares of Colgate-Palmolive in a report on Tuesday, April 18th. They issued a “hold” rating and a $78.00 target price on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 target price on shares of Colgate-Palmolive in a report on Monday, April 24th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $78.00 target price (down previously from $79.00) on shares of Colgate-Palmolive in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $75.69.
Colgate-Palmolive (CL) opened at 73.27 on Friday. The company’s 50-day moving average is $74.80 and its 200 day moving average is $72.20. The firm has a market cap of $64.72 billion, a P/E ratio of 26.44 and a beta of 0.80. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27.
Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,725.55% and a net margin of 16.31%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive will post $2.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, July 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive’s dividend payout ratio is presently 57.76%.
In other news, insider Patricia Verduin sold 3,833 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $72.41, for a total value of $277,547.53. Following the sale, the insider now owns 53,022 shares of the company’s stock, valued at approximately $3,839,323.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Kogan sold 8,000 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.92, for a total transaction of $575,360.00. Following the completion of the sale, the director now directly owns 73,065 shares in the company, valued at approximately $5,254,834.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,666 shares of company stock worth $2,144,371. 1.02% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. acquired a new position in Colgate-Palmolive during the first quarter worth about $102,000. Proficio Capital Partners LLC boosted its position in Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock worth $107,000 after buying an additional 207 shares in the last quarter. Advantage Investment Management LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth about $104,000. Harbour Capital Advisors LLC acquired a new position in Colgate-Palmolive during the first quarter worth about $121,000. Finally, AlphaMark Advisors LLC boosted its position in Colgate-Palmolive by 452.1% in the first quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock worth $122,000 after buying an additional 1,370 shares in the last quarter. Hedge funds and other institutional investors own 73.50% of the company’s stock.
Colgate-Palmolive Company Profile
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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