Colgate-Palmolive (NYSE:CL) declared a quarterly dividend on Thursday, January 11th, RTT News reports. Investors of record on Tuesday, January 23rd will be paid a dividend of 0.40 per share on Thursday, February 15th. This represents a $1.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, January 22nd.
Colgate-Palmolive has raised its dividend by an average of 3.8% annually over the last three years and has increased its dividend annually for the last 54 consecutive years. Colgate-Palmolive has a payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Colgate-Palmolive to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 51.3%.
Colgate-Palmolive (NYSE CL) opened at $75.42 on Wednesday. The stock has a market cap of $66,230.00, a price-to-earnings ratio of 29.12, a P/E/G ratio of 3.15 and a beta of 0.81. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23.
Several research analysts recently issued reports on CL shares. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Jefferies Group reissued a “hold” rating and set a $79.00 target price on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 31st. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Finally, Deutsche Bank began coverage on shares of Colgate-Palmolive in a research note on Wednesday, December 13th. They set a “hold” rating and a $75.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $76.45.
In other news, COO Justin Skala sold 126,393 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $72.97, for a total value of $9,222,897.21. Following the completion of the sale, the chief operating officer now owns 262,361 shares in the company, valued at $19,144,482.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Victoria L. Dolan sold 10,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $73.07, for a total transaction of $730,700.00. Following the completion of the sale, the insider now owns 60,528 shares of the company’s stock, valued at approximately $4,422,780.96. The disclosure for this sale can be found here. Insiders sold 181,950 shares of company stock worth $13,237,385 over the last ninety days. Insiders own 1.02% of the company’s stock.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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