Colgate-Palmolive (NYSE:CL) to Issue Quarterly Dividend of $0.50

Colgate-Palmolive (NYSE:CL) declared a quarterly dividend on Thursday, June 13th, RTT News reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.50 per share on Thursday, August 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%.

Colgate-Palmolive has raised its dividend by an average of 3.0% per year over the last three years and has raised its dividend every year for the last 62 years. Colgate-Palmolive has a dividend payout ratio of 52.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.84 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 52.1%.

Colgate-Palmolive Stock Up 1.6 %

CL traded up $1.53 during trading on Thursday, reaching $94.76. The stock had a trading volume of 3,973,319 shares, compared to its average volume of 4,466,542. The stock’s 50 day moving average is $91.42 and its two-hundred day moving average is $85.97. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The company has a market capitalization of $77.74 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 3.46 and a beta of 0.39. Colgate-Palmolive has a one year low of $67.62 and a one year high of $95.59.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 3.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the transaction, the insider now owns 3,181 shares in the company, valued at approximately $297,328.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sally Massey sold 12,226 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CL shares. Bank of America raised their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Evercore ISI lifted their target price on Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Citigroup upped their target price on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company increased their price target on Colgate-Palmolive from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, April 29th. Finally, Argus lifted their target price on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.94.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.