5 Best Soaps and Cleaning Materials Stocks to Buy

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.