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

Colgate-Palmolive (NYSE:CLGet Free Report) announced a quarterly dividend on Wednesday, December 11th,RTT News reports. Shareholders of record on Tuesday, January 21st will be paid 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% 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% 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 Price Performance

Shares of NYSE CL opened at $92.76 on Thursday. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30. The business has a fifty day moving average price of $95.97 and a two-hundred day moving average price of $98.62. 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 capitalization of $75.79 billion, a PE ratio of 26.58, a P/E/G ratio of 3.36 and a beta of 0.43.

Analyst Ratings Changes

Several brokerages have commented on CL. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. TD Cowen dropped their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $101.00 in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Read Our Latest Report on CL

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated 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 owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

About Colgate-Palmolive

(Get Free Report)

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.

Further Reading

Dividend History for Colgate-Palmolive (NYSE:CL)

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