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

Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Thursday, September 12th, RTT News reports. Investors 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 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, October 18th.

Colgate-Palmolive has raised its dividend payment by an average of 3.0% per year over the last three years and has increased its dividend every year for the last 62 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 Price Performance

Colgate-Palmolive stock opened at $101.59 on Wednesday. Colgate-Palmolive has a 12-month low of $71.07 and a 12-month high of $109.30. The stock has a market cap of $83.35 billion, a P/E ratio of 32.15, a PEG ratio of 3.54 and a beta of 0.40. The company has a 50-day moving average price of $103.53 and a 200 day moving average price of $97.41. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same period last year, the business earned $0.77 earnings per share. Colgate-Palmolive’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the completion of the transaction, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock worth $4,486,063 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CL. BNP Paribas began coverage on shares of Colgate-Palmolive in a research report on Monday, June 24th. They set an “outperform” rating and a $109.00 price target for the company. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Sanford C. Bernstein lifted their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. Piper Sandler began coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target for the company. Finally, TD Cowen lifted their price target on shares of Colgate-Palmolive from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.