New York City-based Colgate-Palmolive Co. (CL Quick QuoteCL - Free Report) is the right choice for investors looking for growth as its stock price has been consistently ticking up. The stock has grown nearly 12% year to date and recorded about 10% growth in the last one year. Additionally, the company looks good from earnings’ perspective as it has a solid surprise history to its credit.

The company has a robust track record of either matching or outperforming our estimates. Over the past ten quarters, Colgate has delivered negative earnings surprise only in one quarter, while it met or beat estimates in the others. This represents an average positive earnings surprise of 0.4% in the last ten quarters.

We believe Colgate derives strength from its international brand recognition and innovative strategies. Colgate has been consistently gaining from its business strategy to improve its leadership positions in key product categories. These categories are further prioritized, based on their capacity to utilize the company’s core competencies and strong global equities at optimal levels to achieve sustainable long-term growth.

Undoubtedly, this Zacks Rank #3 (Hold) stock has positioned itself as a market-leader in the oral and personal care products. On a year-to-date basis through Mar 31, 2016, Colgate’s market share of manual toothbrushes reached 33.5%. Further, the company’s share in the global toothpaste market continued to grow, reaching 43.8%.

Also, the company is progressing well with its savings programs, as both its Global Growth and Efficiency Program or 2012 Restructuring Program and Funding the Growth undertakings are delivering impressive results. Going forward, this world leader of oral care products intends to take strategic steps to optimize its capital allocation, by making investments to develop business, while using the excess cash to enhance shareholder returns through dividend payouts and share buybacks.

Further, Colgate anticipates robust organic sales growth in 2016, backed by new products across categories and geographical regions, which should translate into double-digits organic earnings per share growth.

While all these factors bode well for Colgate, the company continues to battle the lingering currency woes as nearly 75% of its business is generated outside the U.S. Foreign currency exchange hurt the company’s revenue growth by 8% in first-quarter 2016 and is expected to bear a negative effect on full-year 2016 sales as well. Also, stiff competition remains a threat.

Nonetheless, we remain confident of Colgate’s growth as its continued focus on product innovation, along with globally recognized brands and presence in both developed and emerging economies will enable it to capture growth opportunities and boost profitability.

Zacks Rank

Better-ranked stocks in the broader consumer staples sector include United Natural Foods Inc. (UNFI Quick QuoteUNFI - Free Report) , SUPERVALU Inc. and The J. M. Smucker Company (SJM Quick QuoteSJM - Free Report) , each sporting a Zacks Rank #1 (Strong Buy).

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