Staying clean is of utmost importance during the COVID-19 pandemic and that’s where investing in Colgate-Palmolive (NYSE:CL) looks to be a great move today. Colgate’s got a wide array of products and brands in its portfolio that make it a strong, diversified investment to hang on to for years, even decades.
The company releases its second-quarter earnings on July 31 and they could be stellar. In its first-quarter results, that the company released back in May, Colgate noted strong demand for its health and hygiene products.
Its net sales were up 5.5% during the quarter and its earnings per share rose by 28%. That’s not bad given that in 2019 Colgate saw its profits decline and sales growth’s been a problem for years for the company.
A greater focus on soaps, hand sanitizers and overall cleanliness amid the pandemic could give Colgate’s top line a shot in the arm not just in Q2 but for the foreseeable future. Even once the pandemic’s over – which is anyone’s guess when that may be – the post-pandemic world could look very different and be one where sanitizing products are in much higher demand.
Not only is this a blue-chip stock to invest in, but it also provides investors with a decent dividend of 2.4% per year. Year to date, Colgate’s shares are up over 7%, outperforming the S&P 500 which is up less than 1% thus far.
If you’re looking for an investment you can buy and forget about, Colgate’s got the complete package and you can buy its shares and safely hold on to them for the long haul.
