Colgate-Palmolive (NYSE:CL) Announces Quarterly Dividend of $0.52

Colgate-Palmolive (NYSE:CL - Get Free Report) announced a quarterly dividend on Thursday, June 12th, RTT News reports. Investors of record on Friday, July 18th will be given a dividend of 0.52 per share on Friday, August 15th. This represents a $2.08 annualized dividend and a dividend yield of 2.23%.

Colgate-Palmolive has a dividend payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Colgate-Palmolive to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 51.6%.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $1.01 during trading hours on Thursday, hitting $93.12. 4,701,675 shares of the stock were exchanged, compared to its average volume of 4,740,286. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The company has a market cap of $75.47 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38. The company's fifty day simple moving average is $91.64 and its two-hundred day simple moving average is $91.13. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, sell-side analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

A hedge fund recently raised its stake in Colgate-Palmolive stock. Brighton Jones LLC lifted its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,578 shares of the company's stock after acquiring an additional 450 shares during the period. Brighton Jones LLC's holdings in Colgate-Palmolive were worth $962,000 at the end of the most recent reporting period. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CL shares. UBS Group raised their target price on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. Citigroup lifted their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Finally, Barclays cut their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $102.12.

About Colgate-Palmolive

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.

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