Renaissance Investment Group Lowers stake in Colgate-Palmolive Company (CL)

Colgate-Palmolive Company (CL) : Renaissance Investment Group reduced its stake in Colgate-Palmolive Company by 1.75% during the most recent quarter end. The investment management company now holds a total of 54,219 shares of Colgate-Palmolive Company which is valued at $3.9 Million after selling 964 shares in Colgate-Palmolive Company according to a report filed by the company on Apr 1, 2016 with the SEC.Colgate-Palmolive Company makes up approximately 1.93% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group sold out all of its stake in CL during the most recent quarter. The investment firm sold 3,270 shares of CL which is valued $232,824.

On the company’s financial health, Colgate-Palmolive Company reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 29, 2016. Analyst had a consensus of $0.72. The company had revenue of $3899.00 million for the quarter, compared to analysts expectations of $3927.05 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 $0.76 EPS.

Investors should note that on Mar 10, 2016, Colgate-Palmolive Company announced a cash dividend of $0.3900. The company’s management has announced Apr 20, 2016 as the ex-dividend date and fixed the record date on Apr 22, 2016. The payable date has been fixed on May 16, 2016.

Many Wall Street Analysts have commented on Colgate-Palmolive Company. Colgate-Palmolive Company was Downgraded by Sterne Agee CRT to ” Neutral” on Feb 26, 2016. Shares were Reiterated by UBS on Feb 1, 2016 to “Neutral” and Lowered the Price Target to $ 67 from a previous price target of $69 .Colgate-Palmolive Company was Upgraded by Exane BNP Paribas to ” Outperform” on Jan 15, 2016.

Colgate-Palmolive Company closed down -0.13 points or -0.18% at $70.94 with 29,96,265 shares getting traded on Monday. Post opening the session at $71.12, the shares hit an intraday low of $70.8 and an intraday high of $71.4 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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