Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Thursday, September 13th, RTT News reports. Investors of record on Friday, October 19th will be given a dividend of 0.42 per share on Thursday, November 15th. This represents a $1.68 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, October 18th.
Colgate-Palmolive has increased its dividend payment by an average of 3.8% per year over the last three years and has increased its dividend every year for the last 54 years. Colgate-Palmolive has a dividend payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Colgate-Palmolive to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 52.2%.
CL stock opened at $62.54 on Friday. The stock has a market cap of $58.10 billion, a P/E ratio of 21.79, a P/E/G ratio of 2.99 and a beta of 0.72. Colgate-Palmolive has a 52 week low of $61.28 and a 52 week high of $77.91. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of -34.49.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 27th. The company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.91 billion. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 3.02 earnings per share for the current year.
In other news, VP Justin Skala sold 90,069 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $66.36, for a total value of $5,976,978.84. Following the completion of the transaction, the vice president now owns 65,061 shares of the company’s stock, valued at $4,317,447.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Dennis J. Hickey sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $65.72, for a total transaction of $7,886,400.00. Following the completion of the transaction, the insider now directly owns 202,414 shares of the company’s stock, valued at approximately $13,302,648.08. The disclosure for this sale can be found here. In the last three months, insiders sold 415,279 shares of company stock valued at $27,384,156. Company insiders own 1.02% of the company’s stock.
Colgate-Palmolive announced that its board has approved a share repurchase program on Monday, June 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
A number of analysts recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, July 23rd. ValuEngine raised shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Barclays set a $64.00 price target on shares of Colgate-Palmolive and gave the company a “hold” rating in a report on Monday, July 30th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $64.00 price target on shares of Colgate-Palmolive in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $71.21.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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