Investors Buy Large Volume of Put Options on Colgate-Palmolive (NYSE:CL)

Colgate-Palmolive Company (NYSE:CL) was the target of some unusual options trading on Tuesday. Traders acquired 18,150 put options on the stock. This is an increase of 256% compared to the typical volume of 5,100 put options.

Insider Buying and Selling at Colgate-Palmolive

In related news, insider Sally Massey sold 15,851 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the transaction, the chief operating officer owned 10,415 shares in the company, valued at approximately $985,363.15. This represents a 77.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares during the period. Woodline Partners LP increased its stake in shares of Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after purchasing an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Colgate-Palmolive by 2.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after purchasing an additional 245 shares during the period. Wealthfront Advisers LLC lifted its stake in Colgate-Palmolive by 28.6% in the 2nd quarter. Wealthfront Advisers LLC now owns 158,457 shares of the company’s stock valued at $14,404,000 after purchasing an additional 35,219 shares during the last quarter. Finally, Resonant Capital Advisors LLC bought a new position in Colgate-Palmolive during the second quarter worth about $233,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 0.1%

Shares of CL traded up $0.08 during trading hours on Tuesday, reaching $97.18. The company’s stock had a trading volume of 1,285,437 shares, compared to its average volume of 7,246,371. The company has a 50 day moving average of $85.96 and a two-hundred day moving average of $82.34. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90. Colgate-Palmolive has a 1-year low of $74.54 and a 1-year high of $100.18. The firm has a market cap of $78.33 billion, a price-to-earnings ratio of 37.10, a P/E/G ratio of 4.29 and a beta of 0.29.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were issued a $0.52 dividend. The ex-dividend date was Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.1%. Colgate-Palmolive’s dividend payout ratio (DPR) is 79.39%.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Evercore upped their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Jefferies Financial Group lifted their price target on Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 target price on Colgate-Palmolive in a research report on Friday, February 13th. Finally, Bank of America increased their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $94.75.

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.