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

Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Wednesday, December 11th,RTT News reports. Stockholders of record on Tuesday, January 21st will be paid a dividend of 0.50 per share on Friday, February 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, January 21st.

Colgate-Palmolive has raised 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 51.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Colgate-Palmolive to earn $3.87 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 51.7%.

Colgate-Palmolive Stock Up 0.9 %

Shares of NYSE:CL opened at $93.58 on Friday. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The stock’s 50-day moving average price is $95.97 and its 200-day moving average price is $98.62. The stock has a market capitalization of $76.46 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 3.36 and a beta of 0.43.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CL. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Finally, UBS Group lifted their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by insiders.

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.