In this article, we discuss the 5 best FMCG stocks to buy now. If you want our detailed analysis of these stocks, go directly to the 10 Best FMCG Stocks To Buy Now.
5. Colgate-Palmolive Company (NYSE:CL)
Number of Hedge Fund Holders: 58
Colgate-Palmolive Company (NYSE:CL) is an American multinational consumer staples company from New York City, specializing in household, healthcare, and personal care products.
On October 29, the company reported its guidance for FY21, where organic sales were forecasted to rise by 3% to 5%, advertising investment would be increased, and EPS would also continue to grow.
On October 29, the Q3 EPS came in at $0.81, beating estimates by $0.01. Revenue for the quarter totaled $4.41 billion, exceeding estimates by $15.45 million. Berenberg analyst Fulvio Cazzol, on November 2, kept a Hold rating on the stock, lowering the price target from $85 to $77. He cited supply chain disruptions and inflation as key reasons leading to the rating, which are external rather than company specific factors.
As of the second quarter, 58 hedge funds were long Colgate-Palmolive Company (NYSE:CL), with stakes worth $2.36 billion.
Here is what First Eagle Investment Management has to say about Colgate-Palmolive Company (NYSE:CL) in their Q1 2021 investor letter:
“The leading detractors in the quarter (included) Colgate-Palmolive Company. After a strong 2020 fueled in part by lockdown-driven demand, consumer staples stocks generally cooled during the first quarter as investors shifted attention to the more economically sensitive areas of the market likely to benefit from re-openings and improved discretionary spending. The effects of this rotation could be seen in the share price underperformance of names like Colgate-Palmolive.”