Colgate-Palmolive (NYSE:CL) to Issue $0.50 Quarterly Dividend

Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Wednesday, December 11th,RTT News reports. Investors 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 yield of 2.16%.

Colgate-Palmolive has increased its dividend by an average of 3.0% 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 51.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Colgate-Palmolive to earn $3.87 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 51.7%.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded down $1.13 during trading on Wednesday, hitting $92.76. 3,437,097 shares of the company traded hands, compared to its average volume of 4,381,253. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The business’s fifty day moving average is $96.16 and its 200-day moving average is $98.66. The stock has a market capitalization of $75.79 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 3.36 and a beta of 0.43. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price target for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, UBS Group increased their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

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.