Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Thursday, September 13th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, October 18th.

Colgate-Palmolive has increased its dividend by an average of 3.8% annually over the last three years and has raised its dividend every year for the last 54 years. Colgate-Palmolive has a dividend payout ratio of 55.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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%.

Colgate-Palmolive stock opened at $62.54 on Friday. Colgate-Palmolive has a 52-week low of $61.28 and a 52-week high of $77.91. The firm has a market capitalization of $58.10 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72. The company has a quick ratio of 0.74, a current ratio of 1.06 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Colgate-Palmolive had a net margin of 13.97% and a return on equity of 2,494.79%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive will post 3.02 EPS for the current fiscal year.

Several research firms have recently issued reports on CL. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $69.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, June 21st. Stifel Nicolaus decreased their target price on shares of Colgate-Palmolive from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, July 23rd. Citigroup decreased their target price on shares of Colgate-Palmolive from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, July 31st. Finally, Barclays set a $64.00 target price on shares of Colgate-Palmolive and gave the company a “hold” rating in a research note on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $71.21.

In other Colgate-Palmolive news, insider Mukul Deoras sold 11,334 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $65.10, for a total transaction of $737,843.40. Following the transaction, the insider now directly owns 32,625 shares in the company, valued at approximately $2,123,887.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Philip G. Shotts sold 462 shares of the stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $30,977.10. Following the transaction, the vice president now owns 41,250 shares in the company, valued at $2,765,812.50. The disclosure for this sale can be found here. Insiders sold 415,279 shares of company stock valued at $27,384,156 over the last 90 days. Insiders own 1.02% of the company’s stock.

Colgate-Palmolive announced that its board has initiated a stock repurchase program on Monday, June 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

About Colgate-Palmolive

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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Dividend History for Colgate-Palmolive (NYSE:CL)

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