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

Colgate-Palmolive (NYSE:CL) declared a quarterly dividend on Thursday, September 12th, RTT News reports. Stockholders of record on Friday, October 18th will be given a dividend of 0.50 per share on Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%.

Colgate-Palmolive has increased its dividend payment by an average of 3.0% per year over the last three years and has raised its dividend annually for the last 62 consecutive years. Colgate-Palmolive has a payout ratio of 51.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Colgate-Palmolive to earn $3.88 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 51.5%.

Colgate-Palmolive Stock Performance

NYSE CL opened at $105.72 on Friday. The firm has a market cap of $86.38 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 3.72 and a beta of 0.40. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The business has a 50-day moving average price of $102.11 and a 200-day moving average price of $95.17. Colgate-Palmolive has a twelve month low of $67.62 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CL shares. Bank of America increased their price target on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Morgan Stanley increased their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Barclays raised their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, TD Cowen increased their price objective on Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.63.

Insiders Place Their Bets

In related news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now owns 5,146 shares in the company, valued at $529,729.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Panagiotis Tsourapas sold 14,794 shares of Colgate-Palmolive stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock valued at $4,486,063 over the last 90 days. 0.34% of the stock is owned by company insiders.

About Colgate-Palmolive

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.