Colgate-Palmolive (NYSE:CL) declared a quarterly dividend on Thursday, January 11th, RTT News reports. Stockholders of record on Tuesday, January 23rd will be given a dividend of 0.40 per share on Thursday, February 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, January 22nd.
Colgate-Palmolive has raised its dividend payment by an average of 3.8% annually over the last three years and has raised its dividend annually for the last 54 consecutive years. Colgate-Palmolive has a payout ratio of 55.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $3.12 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 51.3%.
Colgate-Palmolive (NYSE CL) opened at $75.42 on Wednesday. The firm has a market cap of $66,230.00, a PE ratio of 29.12, a PEG ratio of 3.15 and a beta of 0.81. The company has a debt-to-equity ratio of 24.42, a current ratio of 1.23 and a quick ratio of 0.92. Colgate-Palmolive has a 12 month low of $63.43 and a 12 month high of $77.27.
CL has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, October 23rd. Deutsche Bank initiated coverage on shares of Colgate-Palmolive in a research note on Wednesday, December 13th. They issued a “hold” rating and a $75.00 target price for the company. Morgan Stanley upgraded shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $75.00 to $84.00 in a research note on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Finally, Macquarie upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price for the company in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $76.45.
In other Colgate-Palmolive news, insider Jennifer Daniels sold 902 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total transaction of $68,389.64. Following the completion of the sale, the insider now directly owns 37,788 shares in the company, valued at $2,865,086.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victoria L. Dolan sold 10,000 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $73.07, for a total transaction of $730,700.00. Following the sale, the insider now owns 60,528 shares of the company’s stock, valued at $4,422,780.96. The disclosure for this sale can be found here. Insiders sold 181,950 shares of company stock valued at $13,237,385 over the last 90 days. 1.02% of the stock is owned by company insiders.
Colgate-Palmolive Company Profile
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.
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