In this article, we discuss the 5 stocks to buy amid rising inflation. If you want to read our detailed analysis of these stocks, go directly to the 13 Stocks to Buy Amid Rising Inflation.
5. Colgate-Palmolive Company (NYSE: CL)
Number of Hedge Fund Holders: 48
Colgate-Palmolive Company (NYSE: CL) is a company that markets health care and personal care products. It is ranked fifth on our list of 13 stocks to buy amid rising inflation. The company has one of the most recognizable brand names in the world, and the pricing power that comes with it, that it can fall back on in the case of inflation. The company’s shares have returned more than 10.7% to investors in the past year. Colgate-Palmolive has a market cap of close to $70 billion and posted $16 billion in revenue last year.
On June 18, investment advisory Evercore maintained an Outperform rating on Colgate-Palmolive Company (NYSE: CL) stock with a price target of $95, implying upside potential of 15%, noting the company’s pricing power in emerging markets like Brazil and China.
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 11.9 million shares worth more than $940 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.”