Colgate-Palmolive (NYSE:CL) declared a quarterly dividend on Wednesday, September 11th, RTT News reports. Investors of record on Wednesday, October 23rd will be paid a dividend of 0.43 per share on Friday, November 15th. This represents a $1.72 dividend on an annualized basis and a yield of 2.36%.
Colgate-Palmolive has increased its dividend payment by an average of 3.4% per year over the last three years and has increased its dividend annually for the last 55 consecutive years. Colgate-Palmolive has a payout ratio of 57.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 56.2%.
Shares of NYSE CL traded up $0.17 during midday trading on Thursday, reaching $73.02. 33,902 shares of the company were exchanged, compared to its average volume of 3,492,830. The stock’s 50-day moving average price is $72.68 and its 200-day moving average price is $70.84. The stock has a market cap of $62.80 billion, a P/E ratio of 24.58, a PEG ratio of 4.71 and a beta of 0.75. Colgate-Palmolive has a one year low of $57.41 and a one year high of $76.41. The company has a quick ratio of 0.78, a current ratio of 1.13 and a debt-to-equity ratio of 32.25.
Several analysts have issued reports on the stock. Zacks Investment Research cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $77.00 target price on the stock. in a research note on Friday, June 7th. Piper Jaffray Companies assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, August 13th. They issued an “overweight” rating on the stock. Argus increased their target price on shares of Colgate-Palmolive from $72.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, ValuEngine cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $73.87.
In related news, SVP John J. Huston sold 473 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $72.93, for a total value of $34,495.89. Following the transaction, the senior vice president now owns 59,668 shares in the company, valued at approximately $4,351,587.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Prabha Parameswaran sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $69.35, for a total transaction of $346,750.00. Following the sale, the insider now directly owns 20,893 shares in the company, valued at approximately $1,448,929.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 546,050 shares of company stock valued at $39,291,054. Insiders own 1.14% of the company’s stock.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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