By J. Royden Ward, Editor of Cabot Benjamin Graham Value Letter
From Cabot Wealth Advisory 10/21/10 Sign up for free Cabot Wealth Advisory e-newsletter
Colgate-Palmolive (CL), a leading consumer products company, continues to benefit from a very successful restructuring program. Leading products include Ajax, Fab and Murphy cleaners, Colgate toothpaste, Irish Spring soap, Mennen shave cream and Hill’s pet food.
Sales and earnings increased 7% to 9% per year during the past 10 years, while dividends were boosted 12% per year. Further success in Latin America, new products and new acquisitions will keep earnings and dividends moving forward at a 10% pace during the next five years.
CL shares are reasonably priced at 14.6 times forward EPS. Dividends have been paid since 1895 and currently provide a yield of 2.8%.
J. Royden WardEditor of
Cabot Benjamin Graham Value Letter A lifelong investment professional, J. Royden Ward applies his 40 years of investment research, portfolio management, writing and publishing experience to his role as analyst and editor of
Cabot Benjamin Graham Value Letter, which is directed to long-term investors seeking a guide to profitable value investing based on the time-tested systems originally developed by Benjamin Graham, the Father of Value Investing. A second-generation disciple of Benjamin Graham, Roy in 1969 pioneered the development of a computerized model that applied the formulas developed by Graham using a unique ranking system. Today, Roy applies his system to two models in the
Value Letter.
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