Colgate-Palmolive (NYSE:CL) Raises Dividend to $0.52 Per Share

Colgate-Palmolive (NYSE:CL) declared a quarterly dividend on Thursday, March 20th, RTT News reports. Investors of record on Thursday, April 17th will be paid a dividend of 0.52 per share on Thursday, May 15th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.30%. This is a 4.0% increase from Colgate-Palmolive’s previous quarterly dividend of $0.50.

Colgate-Palmolive has increased its dividend payment by an average of 3.6% annually over the last three years and has increased its dividend annually for the last 62 consecutive years. Colgate-Palmolive has a dividend payout ratio of 49.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Colgate-Palmolive to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 49.6%.

Colgate-Palmolive Trading Down 0.2 %

Shares of NYSE:CL traded down $0.15 during midday trading on Thursday, reaching $90.29. The company had a trading volume of 5,570,404 shares, compared to its average volume of 4,200,518. The company has a fifty day simple moving average of $89.19 and a two-hundred day simple moving average of $94.41. The firm has a market cap of $73.28 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the firm earned $0.87 earnings per share. Research analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Institutional Trading of Colgate-Palmolive

A hedge fund recently raised its stake in Colgate-Palmolive stock. Brighton Jones LLC grew its position in Colgate-Palmolive (NYSE:CL) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,578 shares of the company’s stock after purchasing an additional 450 shares during the quarter. Brighton Jones LLC’s holdings in Colgate-Palmolive were worth $962,000 as of its most recent SEC filing. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CL has been the topic of several research analyst reports. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Piper Sandler lowered their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their target price on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.