Colgate-Palmolive (NYSE:CL) Declares Dividend Increase – $0.47 Per Share

Colgate-Palmolive (NYSE:CLGet Rating) declared a quarterly dividend on Thursday, March 10th, RTT News reports. Stockholders of record on Thursday, April 21st will be given a dividend of 0.47 per share on Friday, May 13th. This represents a $1.88 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.45.

Colgate-Palmolive has a dividend payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Colgate-Palmolive to earn $3.51 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 53.6%.

NYSE CL opened at $80.01 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 7.41. Colgate-Palmolive has a 52 week low of $72.20 and a 52 week high of $85.61. The firm has a market capitalization of $67.26 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 3.98 and a beta of 0.62. The company has a fifty day moving average of $77.16 and a two-hundred day moving average of $78.75.

Colgate-Palmolive (NYSE:CLGet Rating) last released its quarterly earnings results on Friday, January 28th. The company reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Colgate-Palmolive had a net margin of 12.43% and a return on equity of 308.71%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. Equities research analysts anticipate that Colgate-Palmolive will post 3.25 EPS for the current year.

In other Colgate-Palmolive news, Director John T. Cahill sold 5,389 shares of the company’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $83.16, for a total value of $448,149.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Daniels sold 40,580 shares of the business’s stock in a transaction on Thursday, February 3rd. The shares were sold at an average price of $82.93, for a total transaction of $3,365,299.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,080 shares of company stock valued at $10,443,094. 0.31% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Community Trust NA purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $50,000. Visionary Wealth Advisors grew its position in shares of Colgate-Palmolive by 21.6% in the fourth quarter. Visionary Wealth Advisors now owns 3,333 shares of the company’s stock valued at $284,000 after purchasing an additional 593 shares in the last quarter. Forum Financial Management LP acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $294,000. Zullo Investment Group Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth $320,000. Finally, Horizon Investments LLC grew its holdings in Colgate-Palmolive by 10.4% in the 4th quarter. Horizon Investments LLC now owns 6,010 shares of the company’s stock valued at $510,000 after buying an additional 566 shares in the last quarter. 77.15% of the stock is owned by institutional investors.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Thursday, March 10th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

A number of research firms have weighed in on CL. Deutsche Bank Aktiengesellschaft increased their target price on Colgate-Palmolive from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 13th. Barclays lowered their price objective on shares of Colgate-Palmolive from $90.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, April 1st. TheStreet downgraded shares of Colgate-Palmolive from a “b-” rating to a “c+” rating in a research note on Friday, March 25th. Raymond James started coverage on Colgate-Palmolive in a research note on Thursday, April 7th. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group lowered their target price on Colgate-Palmolive from $104.00 to $95.00 in a report on Tuesday, March 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $86.40.

About Colgate-Palmolive (Get Rating)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

See Also

Dividend History for Colgate-Palmolive (NYSE:CL)

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