Colgate-Palmolive Company (NYSE:CL) Announces Quarterly Dividend of $0.53

Colgate-Palmolive Company (NYSE:CL) announced a quarterly dividend on Thursday, September 17th. Investors of record on Tuesday, October 20th will be given a dividend of 0.53 per share on Friday, November 13th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, October 20th.

Colgate-Palmolive has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 63 years. Colgate-Palmolive has a payout ratio of 54.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Colgate-Palmolive to earn $4.08 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 52.0%.

Colgate-Palmolive Trading Up 0.7%

Shares of Colgate-Palmolive stock opened at $87.67 on Friday. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The business has a fifty day simple moving average of $90.88 and a two-hundred day simple moving average of $89.27. Colgate-Palmolive has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a market capitalization of $69.88 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 4.06 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Research analysts forecast that Colgate-Palmolive will post 3.87 EPS for the current year.

Insider Buying and Selling

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 175,191 shares of company stock valued at $16,110,903 over the last 90 days. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Colgate-Palmolive

Several institutional investors and hedge funds have recently bought and sold shares of CL. Geode Capital Management LLC lifted its position in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after purchasing an additional 304,426 shares during the period. Bank of New York Mellon Corp increased its position in shares of Colgate-Palmolive by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after buying an additional 1,010,872 shares during the period. Norges Bank acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $861,670,000. Deutsche Bank AG raised its stake in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Colgate-Palmolive by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock valued at $752,298,000 after buying an additional 88,917 shares during the period. Institutional investors own 80.41% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.