5 Best Stocks to Buy With 50+ Years of Dividend Increases

2. Colgate-Palmolive Company (NYSE:CL)

Number of Hedge Fund Holders: 48
Number of Years of Consistent Dividend Growth: 58
Dividend Yield: 2.2%

Colgate-Palmolive Company (NYSE: CL) is a US-based multinational consumer products company with headquarters in Manhattan. The company provides household, healthcare, personal care, and other products under a variety of brands like Colgate and Head & Shoulders, and it ranks 2nd on our list of the best stocks to buy with 50+ years of dividend increases.

This June Credit Suisse upgraded Colgate-Palmolive Company (NYSE: CL) shares to Outperform, with a $95 price target. Earlier in May, Deutsche Bank had also raised its price target on the company’s shares to $85 as well.

In the first quarter of 2021, Colgate-Palmolive Company (NYSE: CL) had an EPS of $0.80, beating estimates by $0.01. The company’s revenue was $4.34 billion, up 6.03% year over year and it beat estimates by $80.51 million as well. Colgate-Palmolive Company (NYSE: CL) has gained 0.85% in the past 6 months.

By the end of the first quarter of 2021, 48 hedge funds out of the 866 tracked by Insider Monkey held stakes in Colgate-Palmolive Company (NYSE: CL) worth roughly $2.30 billion. This is compared to 46 hedge funds in the previous quarter with a total stake value of about $1.51 billion.

First Eagle Investment Management, mentioned Colgate-Palmolive Company (NYSE: CL) in its first-quarter 2021 investor letter. Here‘s what they said:

“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.”