Colgate-Palmolive (NYSE:CL) Declares $0.45 Quarterly Dividend

Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Thursday, January 13th, RTT News reports. Shareholders of record on Monday, January 24th will be given a dividend of 0.45 per share on Tuesday, February 15th. This represents a $1.80 annualized dividend and a yield of 2.18%.

Colgate-Palmolive has increased its dividend payment by 7.8% over the last three years and has increased its dividend every year for the last 58 years. Colgate-Palmolive has a payout ratio of 49.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Colgate-Palmolive to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 52.9%.

Colgate-Palmolive stock opened at $82.54 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.70 and a debt-to-equity ratio of 7.48. The business’s fifty day simple moving average is $80.40 and its two-hundred day simple moving average is $79.16. Colgate-Palmolive has a 12 month low of $74.01 and a 12 month high of $85.61. The company has a market capitalization of $69.57 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 4.27 and a beta of 0.64.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Thursday, October 28th. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.40 billion. Colgate-Palmolive had a return on equity of 297.62% and a net margin of 15.37%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. On average, equities research analysts predict that Colgate-Palmolive will post 3.21 EPS for the current year.

A number of brokerages have recently issued reports on CL. Royal Bank of Canada lowered their price target on Colgate-Palmolive from $90.00 to $85.00 and set a “sector perform” rating on the stock in a report on Monday, November 1st. Bank of America began coverage on Colgate-Palmolive in a report on Tuesday, October 5th. They set a “neutral” rating on the stock. Barclays lowered their price target on Colgate-Palmolive from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 2nd. UBS Group initiated coverage on Colgate-Palmolive in a research report on Thursday, December 16th. They set a “neutral” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating and upped their price objective for the company from $84.00 to $86.00 in a research report on Monday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $85.73.

In related news, insider John W. Kooyman sold 576 shares of the stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $77.14, for a total transaction of $44,432.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noel R. Wallace sold 145,200 shares of the stock in a transaction that occurred on Thursday, November 4th. The shares were sold at an average price of $77.18, for a total value of $11,206,536.00. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Dividend History for Colgate-Palmolive (NYSE:CL)

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