Colgate-Palmolive (NYSE:CL) declared a quarterly dividend on Thursday, January 10th, RTT News reports. Shareholders of record on Wednesday, January 23rd will be given a dividend of 0.42 per share on Friday, February 15th. This represents a $1.68 dividend on an annualized basis and a yield of 2.72%.
Colgate-Palmolive has increased its dividend by an average of 3.4% annually over the last three years and has increased its dividend annually for the last 55 consecutive years. Colgate-Palmolive has a dividend payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 55.4%.
NYSE:CL opened at $61.82 on Friday. The company has a market cap of $53.17 billion, a PE ratio of 21.54, a PEG ratio of 2.94 and a beta of 0.75. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91.
Several equities analysts have recently weighed in on CL shares. Goldman Sachs Group raised shares of Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Morgan Stanley cut their price target on shares of Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. JPMorgan Chase & Co. lowered shares of Colgate-Palmolive from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $61.00 to $54.00 in a report on Monday, October 29th. Finally, Wells Fargo & Co cut their price target on shares of Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating for the company in a report on Wednesday, October 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.71.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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