Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Thursday, March 14th, RTT News reports. Stockholders of record on Friday, April 19th will be given a dividend of 0.43 per share on Wednesday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 2.60%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.42.
Colgate-Palmolive has increased its dividend payment by an average of 3.4% annually over the last three years and has raised its dividend every year for the last 55 years. Colgate-Palmolive has a payout ratio of 55.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.01 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 55.8%.
Shares of CL traded down $0.27 during trading hours on Thursday, hitting $66.25. 3,216,809 shares of the company were exchanged, compared to its average volume of 4,163,228. The firm has a market cap of $57.32 billion, a PE ratio of 22.31, a P/E/G ratio of 4.25 and a beta of 0.78. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 32.25. Colgate-Palmolive has a one year low of $57.41 and a one year high of $72.61.
Several brokerages have recently commented on CL. Zacks Investment Research raised Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Credit Suisse Group began coverage on Colgate-Palmolive in a research report on Wednesday, March 6th. They issued an “underperform” rating for the company. Macquarie set a $57.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $57.00 target price on shares of Colgate-Palmolive in a research report on Thursday, January 31st. Finally, Morgan Stanley set a $62.00 target price on Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, January 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $65.13.
In other Colgate-Palmolive news, CFO Henning I. Jakobsen sold 969 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $66.39, for a total transaction of $64,331.91. Following the transaction, the chief financial officer now directly owns 35,208 shares in the company, valued at $2,337,459.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Dennis J. Hickey sold 6,060 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $66.37, for a total value of $402,202.20. Following the transaction, the insider now owns 407,294 shares in the company, valued at $27,032,102.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,700 shares of company stock valued at $3,419,284. 1.02% of the stock is owned by corporate insiders.
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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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