In this article, we discuss the 5 best soaps and cleaning materials stocks to buy. To read the detailed analysis of related industries and current market conditions, go directly to the 10 Best Soaps and Cleaning Materials Stocks to Buy.
5. Ecolab Inc. (NYSE:ECL)
Number of Hedge Fund Holders: 47
Ecolab Inc. (NYSE:ECL) offers hygiene, water, and infection prevention solutions and services. The company’s Global Institutional & Specialty, and Global Healthcare & Life Sciences segments provide specialized cleaning and sanitizing products.
On April 12, Mizuho analyst John Roberts upgraded Ecolab Inc. (NYSE:ECL) to Buy from Neutral and increased the price target to $260 from $216. The analyst expressed his confidence in the company and commented that the company “appears to be back to its historical beat-and-raise visibility.”
Ecolab Inc. (NYSE:ECL) takes a spot among the best soaps and cleaning materials stocks to buy. In the fourth quarter of 2023, 47 hedge funds had stakes in the stock, with total positions worth $2.358 billion. As of December 31, 2023, the Bill & Melinda Gates Foundation Trust is the top shareholder in the company with a stake worth $1.035 billion.
Mairs & Power stated the following regarding Ecolab Inc. (NYSE:ECL) in its fourth quarter 2023 investor letter:
“All of our Materials holdings—Ecolab Inc. (NYSE:ECL), HB Fuller (FUL), and Sherwin Williams (SHW)—also posted strong results in 2023, a stark reversal from the prior year. After oil prices spiked above $100 in 2022 due to the Ukraine-Russia Conflict, oil has since pulled back to the low $70s. Oil and its by-products are major inputs for all of our Materials holdings; as such, lower oil prices have led to a rebound in profits. For example, our largest Materials holding—Ecolab—is expected to increase earnings more than 15% this year after declining 5% last year.”
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4. Bath & Body Works, Inc. (NYSE:BBWI)
Number of Hedge Fund Holders: 48
Bath & Body Works, Inc. (NYSE:BBWI), previously known as L Brands, Inc., is a retailer of soaps and sanitizers, home fragrances, and body care products. According to our database that tracks 933 elite hedge funds, 48 funds had stakes in Bath & Body Works, Inc. (NYSE:BBWI) in the fourth quarter of 2023, with positions worth $2.6 billion.
Over the past three months, 8 Wall Street analysts have recommended to Buy the stock. Bath & Body Works, Inc. (NYSE:BBWI) has an average price target of $49.00 and a high forecast of $56.00, as of April 19.
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3. Colgate-Palmolive Company (NYSE:CL)
Number of Hedge Fund Holders: 54
Colgate-Palmolive Company (NYSE:CL) is engaged in manufacturing and selling consumer products. The company operates through Oral, Personal and Home Care, and Pet Nutrition segments. On April 16, Citi raised the price target on Colgate-Palmolive Company (NYSE:CL) to $100 from $95 and maintained a Buy rating on the shares.
On March 14, Colgate-Palmolive Company (NYSE:CL) declared a quarterly dividend of $0.50, a 4.2% increase from its previous dividend. The dividend is payable by May 15 to the shareholders of record on April 22 and its dividend yield is 2.30%, as of April 19.
Colgate-Palmolive Company (NYSE:CL) is one of the best soaps and cleaning materials stocks to buy. In the fourth quarter of 2023, 54 hedge funds held positions in Colgate-Palmolive Company (NYSE:CL) and their stakes amounted to $2.88 billion. As of December 31, 2023, Jean-Marie Eveillard’s First Eagle Investment Management is the most dominant shareholder in the company and has a position worth $874.82 million.
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2. The Procter & Gamble Company (NYSE:PG)
Number of Hedge Fund Holders: 71
The Procter & Gamble Company (NYSE:PG) is a provider of consumer packaged goods and has multiple brands, including Ariel, Safeguard, and more.
According to our database, 71 hedge funds held stakes in The Procter & Gamble Company (NYSE:PG) in the fourth quarter of 2023, with positions worth $5.94 billion. Fisher Asset Management is the largest shareholder of the company, as of December 31, 2023, with a position worth $1.546 billion.
On April 9, The Procter & Gamble Company (NYSE:PG) announced a 7% increase in its quarterly dividend to $1.0065, payable by May 15 to the shareholders of record on April 19. As of April 19, The Procter & Gamble Company (NYSE:PG) has a dividend yield of 2.58%.
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1. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Holders: 81
Johnson & Johnson (NYSE:JNJ) develops and manufactures various products in the healthcare industry and sells baby soaps through its brand, Johnson Baby. It is the top stock on our list of best soaps and cleaning materials stocks to buy.
On April 16, Johnson & Johnson (NYSE:JNJ) announced an increase of 4.2% in its quarterly dividend to $1.24, payable by June 4 to the shareholders of record on May 21. The stock has a dividend yield of 3.37%, as of April 19.
Johnson & Johnson (NYSE:JNJ) was part of 81 hedge funds’ portfolios in the fourth quarter of 2023 with a total stake value of $3.9 billion. As of Q4 of 2023, Fisher Asset Management is the biggest shareholder in the company and has a position worth $995.327 million.
ClearBridge Investments made the following comment about Johnson & Johnson (NYSE:JNJ) in its Q3 2023 investor letter:
“The health care space provided some opportunities in the quarter, as we increased our exposure to medical device company Becton, Dickinson as well as large cap pharmaceutical company Johnson & Johnson (NYSE:JNJ). Johnson & Johnson recently spun out its consumer health care business, becoming a more focused yet broadly diversified pharmaceutical and medtech company.”
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Should you invest $1,000 in Johnson & Johnson (NYSE:JNJ) right now?
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Disclosure: None. You can also look at the 20 Countries with the Highest Cancer Survival Rates in the World and the 11 Best Coal Mining Stocks To Invest In.
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