5 Best Humane Stocks to Buy Now

1. Colgate-Palmolive Company (NYSE:CL)

Market Capitalization as of April 13: $63.24 billion
Number of Hedge Fund Holders: 61

Colgate-Palmolive Company (NYSE:CL) is a global company that is dedicated to sustainability and social impact. They offer products in oral care, personal care, home care, and pet nutrition in more than 200 countries. Colgate-Palmolive Company (NYSE:CL) has made significant progress in reducing plastic waste, conserving natural resources, and improving children’s oral health through its Bright Smiles, Bright Futures program.

In their 2021 Sustainability & Social Impact Report, Colgate-Palmolive Company (NYSE:CL) outlined their advancements towards their ambitious sustainability goals, including their Climate Action & Net Zero Carbon transition and targets. The company aims to reduce emissions by 20% by 2025, 42% by 2030, and reach Net Zero carbon emissions across the value chain by 2040. Colgate-Palmolive Company (NYSE:CL) is also committed to creating a more inclusive world and helping children, their families, and communities thrive through their enhanced ambition for Driving Social Impact.

The number of hedge funds tracked by Insider Monkey having stakes in Colgate-Palmolive Company (NYSE:CL) increased to 61 in Q4 from 57 in the preceding quarter. These stakes hold a consolidated value of $4.46 billion. Dan Loeb’s Third Point is a significant shareholder in the company, with 11.55 million shares valued at $910.02 million.

In its Q4 2022 investor letter, Third Point mentioned Colgate-Palmolive Company (NYSE:CL). Here‘s what the company has to say:

“Colgate-Palmolive Company (NYSE:CL) remains one of the firm’s largest equity positions. The company offers defensive growth at a reasonable valuation, and we continue to see the potential for shares to deliver attractive risk adjusted returns over the next several years.

Fourth Quarter results were disappointing. The company missed on gross margins, guided 2023 well below the Street, and took another large impairment charge on its portfolio of skin care brands. The price action on the day of the print (down 5%) was extreme and perhaps reflective of growing investor frustration that the company has failed to sustainably grow earnings over the past decade.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get  the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out our articles on 10 Best EV Battery Stocks Under $10 and 12 Best Dow Stocks To Buy Right Now.