Colgate-Palmolive Company Announces Quarterly Dividend of $0.40 (NYSE:CL)
Colgate-Palmolive Company (NYSE:CL) declared a quarterly dividend on Thursday, June 8th, RTT News reports. Investors of record on Tuesday, July 18th will be paid a dividend of 0.40 per share on Tuesday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, July 14th.
Colgate-Palmolive has increased its dividend payment by an average of 5.2% per year over the last three years and has increased its dividend every year for the last 53 years. Colgate-Palmolive has a payout ratio of 55.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Colgate-Palmolive to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 51.1%.
Shares of Colgate-Palmolive (CL) traded down 0.03% on Thursday, reaching $71.60. 2,660,197 shares of the company’s stock traded hands. Colgate-Palmolive has a 12-month low of $63.43 and a 12-month high of $77.27. The stock has a 50-day moving average price of $73.87 and a 200-day moving average price of $72.62. The company has a market cap of $63.07 billion, a PE ratio of 26.62 and a beta of 0.80.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 21st. The company reported $0.72 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive will post $2.89 EPS for the current fiscal year.
In other Colgate-Palmolive news, Director Ellen M. Hancock sold 5,057 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $71.91, for a total transaction of $363,648.87. Following the completion of the sale, the director now owns 199,777 shares in the company, valued at approximately $14,365,964.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John J. Huston sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $71.53, for a total value of $1,001,420.00. Following the sale, the senior vice president now owns 102,838 shares of the company’s stock, valued at approximately $7,356,002.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,097 shares of company stock worth $8,480,638. Company insiders own 1.02% of the company’s stock.
Several equities research analysts have recently commented on CL shares. Bank of America Corporation upped their price target on Colgate-Palmolive from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Friday, April 7th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of Colgate-Palmolive in a report on Friday, June 30th. Jefferies Group LLC dropped their price objective on Colgate-Palmolive from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Monday, May 1st. Finally, Vetr lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and set a $76.67 price objective on the stock. in a report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $75.82.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
Receive News & Stock Ratings for Colgate-Palmolive Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive Company and related stocks with our FREE daily email newsletter.