14 Best FMCG Stocks To Buy Now

8. Colgate-Palmolive Company (NYSE:CL)

Number of Hedge Fund Holders: 50

Colgate-Palmolive Company (NYSE:CL) is a multinational corporation headquartered in Midtown Manhattan, New York City, on Park Avenue. The company focuses on manufacturing, distributing, and offering a diverse range of household, healthcare, personal care, and veterinary products. It pays a quarterly dividend of $0.50 per share, having increased it by 4% in March this year, extending its dividend growth streak to 62 years.

At the tail-end of May, Morgan Stanley revised its outlook on Colgate-Palmolive Company (NYSE:CL), raising the price target to $103 from $101 while maintaining an Overweight rating. The updated report highlighted Colgate-Palmolive’s ability to exceed consensus expectations in organic sales growth (OSG) and earnings per share. This growth trajectory is viewed as sustainable, supported by the company’s robust balance relative to its peers in the Consumer Packaged Goods (CPG) sector. Additionally, Colgate-Palmolive Company (NYSE:CL) has demonstrated solid revenue growth of 7.71% over the past twelve months as of Q1 2024.

By the end of Q1 2023, 50 hedge funds tracked by Insider Monkey reported owning stakes in Colgate-Palmolive Company, down from 54 in the previous quarter, with these stakes valued at over $2.12 billion.