5 Best Long-Term Dividend Stocks To Buy Now

4. Colgate-Palmolive Company (NYSE:CL)

Number of Hedge Fund Holders: 58     

Consecutive Years of Dividend Growth: 57  

Forward Dividend Yield: 2.42%    

Colgate-Palmolive Company (NYSE:CL) is a New York-based firm that makes and sells consumer products. It is placed fourth on our list of 12 best long-term dividend stocks to buy now.

On October 5, investment advisory Bank of America reinstated coverage of Colgate-Palmolive Company (NYSE:CL) stock with a Neutral rating and a price target of $80, noting the innovations of the firm in the pet foods and oral care departments. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm First Eagle Investment Management is a leading shareholder in Colgate-Palmolive Company (NYSE:CL) with 11.8 million shares worth more than $963 million. 

Here is what First Eagle Investment Management has to say about Colgate-Palmolive Company (NYSE:CL) in its 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.”