Colgate-Palmolive Company (NYSE:CL) to Issue Dividend Increase – $0.53 Per Share

Colgate-Palmolive Company (NYSE:CL) announced a quarterly dividend on Thursday, March 12th. Shareholders of record on Monday, April 20th will be given a dividend of 0.53 per share on Friday, May 15th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, April 20th. This is a 1.9% increase from Colgate-Palmolive’s previous quarterly dividend of $0.52.

Colgate-Palmolive has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 63 years. Colgate-Palmolive has a dividend payout ratio of 53.1% 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 $2.08 annual dividend with an expected future payout ratio of 51.6%.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $0.62 during trading on Friday, hitting $88.57. The stock had a trading volume of 252,463 shares, compared to its average volume of 7,045,621. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive has a 12-month low of $74.54 and a 12-month high of $99.33. The stock has a market capitalization of $71.39 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 4.01 and a beta of 0.28. The stock has a 50-day simple moving average of $89.89 and a two-hundred day simple moving average of $83.20.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the transaction, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. This trade represents a 63.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the transaction, the insider directly owned 17,645 shares of the company’s stock, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 184,683 shares of company stock worth $17,486,693. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Colgate-Palmolive

Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at about $861,670,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after buying an additional 4,598,789 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Colgate-Palmolive by 242.3% during the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after acquiring an additional 3,768,784 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $236,682,000. Finally, Deutsche Bank AG grew its holdings in shares of Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after acquiring an additional 2,746,920 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.