Colgate-Palmolive (NYSE:CL) to Issue Quarterly Dividend of $0.47

Colgate-Palmolive (NYSE:CLGet Rating) declared a quarterly dividend on Thursday, June 9th, RTT News reports. Investors of record on Thursday, July 21st will be paid a dividend of 0.47 per share on Monday, August 15th. This represents a $1.88 annualized dividend and a yield of 2.45%.

Colgate-Palmolive has raised its dividend by an average of 2.6% annually over the last three years and has increased its dividend annually for the last 59 consecutive years. Colgate-Palmolive has a dividend payout ratio of 56.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.38 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 55.6%.

Shares of CL stock traded down $1.02 during mid-day trading on Thursday, hitting $76.85. The company’s stock had a trading volume of 6,327,245 shares, compared to its average volume of 5,393,552. The company’s fifty day simple moving average is $78.51 and its 200-day simple moving average is $79.20. Colgate-Palmolive has a 52 week low of $72.20 and a 52 week high of $85.61. The company has a debt-to-equity ratio of 10.42, a quick ratio of 0.67 and a current ratio of 1.09. The company has a market cap of $64.40 billion, a PE ratio of 31.75, a P/E/G ratio of 5.26 and a beta of 0.56.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.40 billion. Colgate-Palmolive had a return on equity of 296.77% and a net margin of 11.70%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. On average, equities analysts anticipate that Colgate-Palmolive will post 3.08 earnings per share for the current year.

In other news, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $79.34, for a total transaction of $3,967,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,790 shares in the company, valued at approximately $17,596,818.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Philip G. Shotts sold 10,000 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $78.52, for a total transaction of $785,200.00. Following the completion of the transaction, the vice president now owns 46,094 shares of the company’s stock, valued at $3,619,300.88. The disclosure for this sale can be found here. Insiders have sold a total of 79,683 shares of company stock worth $6,297,119 in the last three months. Insiders own 0.32% of the company’s stock.

Large investors have recently made changes to their positions in the stock. First Community Trust NA purchased a new stake in Colgate-Palmolive during the fourth quarter valued at about $50,000. Covestor Ltd boosted its position in Colgate-Palmolive by 71.9% during the first quarter. Covestor Ltd now owns 2,451 shares of the company’s stock valued at $186,000 after buying an additional 1,025 shares during the period. Geller Advisors LLC purchased a new stake in Colgate-Palmolive during the first quarter valued at about $200,000. Eudaimonia Partners LLC purchased a new stake in Colgate-Palmolive during the first quarter valued at about $260,000. Finally, Forum Financial Management LP boosted its position in Colgate-Palmolive by 4.3% during the first quarter. Forum Financial Management LP now owns 3,596 shares of the company’s stock valued at $272,000 after buying an additional 147 shares during the period. Institutional investors own 78.12% of the company’s stock.

A number of research firms have issued reports on CL. The Goldman Sachs Group cut their price target on Colgate-Palmolive from $104.00 to $95.00 in a research note on Tuesday, March 29th. Barclays cut their price target on Colgate-Palmolive from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Stifel Nicolaus cut their price target on Colgate-Palmolive from $90.00 to $88.00 in a research note on Wednesday, April 13th. Raymond James assumed coverage on Colgate-Palmolive in a research note on Thursday, April 7th. They issued a “market perform” rating on the stock. Finally, Atlantic Securities downgraded Colgate-Palmolive from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $92.00 to $80.00 in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.19.

Colgate-Palmolive declared that its board has initiated a share repurchase plan on Thursday, March 10th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to buy up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

About Colgate-Palmolive (Get Rating)

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. 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.

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Dividend History for Colgate-Palmolive (NYSE:CL)

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