Colgate-Palmolive Announces Quarterly Dividend of $0.50 (NYSE:CL)

Colgate-Palmolive (NYSE:CL) declared 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 dividend on an annualized basis and a yield of 2.16%.

Colgate-Palmolive has increased its dividend by an average of 3.0% annually over the last three years and has increased its dividend annually for the last 62 consecutive years. Colgate-Palmolive has a dividend payout ratio of 51.7% indicating that its dividend is sufficiently covered by earnings. 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 Down 1.2 %

CL stock traded down $1.13 during mid-day trading on Wednesday, reaching $92.76. The company had a trading volume of 3,437,097 shares, compared to its average volume of 4,381,253. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30. The company has a market capitalization of $75.79 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 3.36 and a beta of 0.43. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a fifty day simple moving average of $96.16 and a 200 day simple moving average of $98.66.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction 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 approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CL shares. Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their target price for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. TD Cowen decreased their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

About Colgate-Palmolive

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.