Colgate-Palmolive (CL) to Issue Quarterly Dividend of $0.50 on February 14th

Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Wednesday, December 11th,RTT News reports. Stockholders of record on Tuesday, January 21st will be given a dividend of 0.50 per share on Friday, February 14th. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, January 21st.

Colgate-Palmolive has increased its dividend by an average of 3.4% per year over the last three years and has raised its dividend annually for the last 62 consecutive years. Colgate-Palmolive has a payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.83 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 52.2%.

Colgate-Palmolive Stock Up 0.3 %

Shares of NYSE:CL opened at $88.79 on Friday. Colgate-Palmolive has a 1-year low of $79.69 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market cap of $72.55 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.01 and a beta of 0.44. The firm has a fifty day moving average price of $92.20 and a 200 day moving average price of $97.74.

Wall Street Analyst Weigh In

CL has been the topic of several recent research reports. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their price objective on shares of Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research report on Friday. TD Cowen dropped their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays reduced their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.11.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Company Profile

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.