In this article, we discuss the 5 best value stocks to buy according to billionaire Dan Loeb. If you want to see more of the value stocks that Dan Loeb is favoring, click 10 Best Value Stocks to Buy According to Billionaire Dan Loeb.
05. Colgate-Palmolive Company (NYSE:CL)
Third Point’s Stake Value: $159.078 Million
Percentage of Third Point’s 13F Portfolio: 3.76%
Number of Hedge Fund Holders: 55
P/E Ratio (Non-GAAP) as of October 09: 22.55
Colgate-Palmolive Company (NYSE:CL) was founded in 1806 and is based in New York, New York. Colgate-Palmolive Company (NYSE:CL), together with its subsidiaries, manufactures and sells consumer products worldwide.
Colgate-Palmolive Company (NYSE:CL), which has experienced annual dividend growth for the past 60 years, is one of the best stocks to buy as recession approaches. On September 9, the business announced a quarterly dividend of $0.47 per share, as it had in the previous quarter. Shareholders with records as of October 21 will get the dividend on November 15. On August 2, Lauren Lieberman, an analyst with Barclays, raised his price target for Colgate-Palmolive Company (NYSE:CL) from $71 to $74 and maintained an Equal Weight rating on the shares. According to Lieberman in a research note to investors, Colgate’s better-than-anticipated organic sales growth in Q2 has allowed the company to increase its full-year guidance range.
At the end of Q2 2022, 55 hedge funds held stakes in Colgate-Palmolive Company (NYSE:CL). The total value of these stakes amounted to $2.93 billion, up from $2.59 billion a quarter ago, with 50 positions. The hedge fund sentiment for the stock is positive. As of June 30, First Eagle Investment Management is the largest investor in Colgate-Palmolive Company (NYSE:CL) and has stakes worth $899 million in the company.
Here is what First Eagle Investments had to say about Colgate-Palmolive Company (NYSE:CL) in its second-quarter 2022 investor letter:
“Shares of consumer staples giant Colgate-Palmolive have performed well as investors rotated into more recessionary-resilient defensive stocks amid the broader selloff during the second quarter. The company raised revenue guidance for 2022 but lowered its margin outlook because of higher costs for raw materials, packaging and logistics; we believe that the company’s size and market share provide it with options to mitigate the inflation challenges it faces. We continue to like Colgate- Palmolive’s dividend and previously announced $5 billion stock buyback program.”