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

Colgate-Palmolive (NYSE:CL) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Investors of record on Thursday, April 17th will be given a dividend of 0.52 per share on Thursday, May 15th. This represents a $2.08 annualized dividend 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 by an average of 3.6% per year over the last three years and has raised its dividend every year for the last 62 years. Colgate-Palmolive has a dividend payout ratio of 49.9% meaning 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 $2.00 annual dividend with an expected future payout ratio of 49.6%.

Colgate-Palmolive Stock Down 0.2 %

CL stock opened at $90.29 on Friday. The firm has a market cap of $73.28 billion, a price-to-earnings ratio of 25.65, a PEG 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 firm has a fifty day moving average price of $89.25 and a two-hundred day moving average price of $94.38. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share 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 in the prior year, the firm posted $0.87 earnings per share. Research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

An institutional investor recently raised its position in Colgate-Palmolive stock. Brighton Jones LLC increased its position in shares of Colgate-Palmolive (NYSE:CL) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,578 shares of the company’s stock after purchasing 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 declared that its board has initiated a share buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

CL has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Piper Sandler cut their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their price target 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 cut their price objective on shares of 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 lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.