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

Colgate-Palmolive (NYSE:CL) 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 yield of 2.31%. The ex-dividend date of this dividend is Friday, July 18th.

Colgate-Palmolive has a payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

CL stock opened at $90.20 on Friday. The company has a market capitalization of $73.10 billion, a P/E ratio of 25.63, a PEG ratio of 4.20 and a beta of 0.38. The company has a 50-day simple moving average of $91.75 and a 200 day simple moving average of $91.07. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the previous year, the business earned $0.86 earnings per share. Colgate-Palmolive’s revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has approved a stock repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

CL has been the topic of several research reports. UBS Group boosted their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company boosted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, Citigroup boosted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $102.12.

Institutional Investors Weigh In On Colgate-Palmolive

An institutional investor recently raised its position in Colgate-Palmolive stock. Brighton Jones LLC lifted its position in Colgate-Palmolive (NYSE:CL) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,578 shares of the company’s stock after buying an additional 450 shares during the quarter. Brighton Jones LLC’s holdings in Colgate-Palmolive were worth $962,000 as of its most recent filing with the SEC. Institutional investors own 80.41% of the company’s stock.

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.