Renaissance Technologies Lowers stake in Colgate-Palmolive Company (CL)

Colgate-Palmolive Company (CL) : Renaissance Technologies reduced its stake in Colgate-Palmolive Company by 1.8% during the most recent quarter end. The investment management company now holds a total of 9,881,500 shares of Colgate-Palmolive Company which is valued at $708.2 Million after selling 181,400 shares in Colgate-Palmolive Company , the firm said in a disclosure report filed with the SEC on May 13, 2016.Colgate-Palmolive Company makes up approximately 1.35% of Renaissance Technologies’s portfolio.

Other Hedge Funds, Including , Mv Capital Management boosted its stake in CL in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 2,786 shares of Colgate-Palmolive Company which is valued at $199,673. Colgate-Palmolive Company makes up approx 0.08% of Mv Capital Management’s portfolio.United Capital Financial Advisers boosted its stake in CL in the latest quarter, The investment management firm added 10,612 additional shares and now holds a total of 334,922 shares of Colgate-Palmolive Company which is valued at $24 Million. Colgate-Palmolive Company makes up approx 0.27% of United Capital Financial Advisers’s portfolio.Eagleclaw Capital Managment reduced its stake in CL by selling 950 shares or 2.74% in the most recent quarter. The Hedge Fund company now holds 33,764 shares of CL which is valued at $2.4 Million. Colgate-Palmolive Company makes up approx 1.64% of Eagleclaw Capital Managment’s portfolio.Saratoga Research Investment Management reduced its stake in CL by selling 5,070 shares or 6.34% in the most recent quarter. The Hedge Fund company now holds 74,957 shares of CL which is valued at $5.3 Million. Colgate-Palmolive Company makes up approx 0.47% of Saratoga Research Investment Management’s portfolio.

Colgate-Palmolive Company closed down -0.2 points or -0.28% at $70.67 with 20,98,462 shares getting traded on Wednesday. Post opening the session at $70.96, the shares hit an intraday low of $70.64 and an intraday high of $71.15 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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