Tower Bridge Advisors buys $12.9 Million stake in Colgate-Palmolive Company (CL)

Colgate-Palmolive Company (CL) : Tower Bridge Advisors scooped up 1,758 additional shares in Colgate-Palmolive Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 180,362 shares of Colgate-Palmolive Company which is valued at $12.9 Million.Colgate-Palmolive Company makes up approximately 1.63% of Tower Bridge Advisors’s portfolio.

Other Hedge Funds, Including , Amf Pensionsforsakring Ab boosted its stake in CL in the latest quarter, The investment management firm added 47,011 additional shares and now holds a total of 865,574 shares of Colgate-Palmolive Company which is valued at $62 Million. Colgate-Palmolive Company makes up approx 0.82% of Amf Pensionsforsakring Ab’s portfolio.Blackrock Advisors boosted its stake in CL in the latest quarter, The investment management firm added 187,359 additional shares and now holds a total of 1,848,897 shares of Colgate-Palmolive Company which is valued at $132.5 Million. Colgate-Palmolive Company makes up approx 0.14% of Blackrock Advisors’s portfolio.Penserra Capital Management boosted its stake in CL in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 92 shares of Colgate-Palmolive Company which is valued at $6,594.Janney Capital Management boosted its stake in CL in the latest quarter, The investment management firm added 260 additional shares and now holds a total of 3,351 shares of Colgate-Palmolive Company which is valued at $240,166. Colgate-Palmolive Company makes up approx 0.01% of Janney Capital Management’s portfolio.

Colgate-Palmolive Company closed down -0.41 points or -0.58% at $70.02 with 29,77,991 shares getting traded on Friday. Post opening the session at $70.79, the shares hit an intraday low of $69.92 and an intraday high of $70.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Colgate-Palmolive Company reported $0.63 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.63. The company had revenue of $3762.00 million for the quarter, compared to analysts expectations of $3760.63 million. The company’s revenue was down -7.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Colgate-Palmolive Company. Colgate-Palmolive Company was Upgraded by Goldman to ” Neutral” on May 2, 2016. Company shares were Reiterated by UBS on Apr 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 76 from a previous price target of $73 .Colgate-Palmolive Company was Downgraded by Sterne Agee CRT to ” Neutral” on Feb 26, 2016.

Colgate-Palmolive Company (Colgate) is a consumer products company whose products are marketed in more than 200 countries and territories throughout the world. The Company operates in two product segments: Oral Personal and Home Care and Pet Nutrition. The Oral Personal and Home Care product segment is operated through five geographic segments: North America Latin America Europe/South Pacific Asia and Africa/Eurasia. The Company’s oral care products include Colgate Total; Colgate Sensitive Pro-Relief; Colgate Max Fresh; Colgate Optic White and Colgate Luminous White toothpastes among others. The Company sells its personal care products under the Palmolive Protex and Softsoap brands. The Company through its Hill’s Pet Nutrition segment (Hill’s) manufactures pet nutrition products for dogs and cats.

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