10 Best Diversified Dividend Stocks To Buy Now

6. Colgate-Palmolive Company (NYSE:CL)

Number of Hedge Fund Holders: 54

Colgate-Palmolive Company (NYSE:CL) is a prominent global consumer products company, recognized for its products in Oral Care, Personal Care, Home Care, and Pet Nutrition. In the past 12 months, the stock has surged by nearly 9%. Recently, the company has focused heavily on sustainability and broadening its product offerings. Its goal of making all packaging recyclable by 2025 highlights the increasing environmental concerns of consumers and regulators. Through efforts like partnering on renewable energy projects, the company is adjusting its operations to align with future market needs and regulatory standards.

In the third quarter of 2024, Colgate-Palmolive Company (NYSE:CL) reported revenues of $5.03 billion, marking a 2.4% increase compared to the same quarter last year, surpassing analysts’ expectations by $27.2 million. The company continues to dominate the toothpaste market with a 41.6% global market share year-to-date, and it remains the leader in the manual toothbrush category, holding a 32.3% global market share during the same period.

Colgate-Palmolive Company (NYSE:CL)’s financial position also remained strong in 2024, generating nearly $3 billion in operating cash flow during the first nine months of the year. This solid cash flow has allowed the company to increase its dividends for 62 consecutive years. Currently, it pays a quarterly dividend of $0.50 per share and has a dividend yield of 2.28%, as of January 22.

As per Insider Monkey’s database of Q3 2024, 54 hedge funds owned stakes in Colgate-Palmolive Company (NYSE:CL), up from 52 in the previous quarter. The overall value of these stakes is over $3.4 billion. With over 9.3 million shares, GQG Partners was the company’s leading stakeholder in Q3.