Tortoise Investment Management Lowers stake in Colgate-Palmolive Company (CL)

Colgate-Palmolive Company (CL) : Tortoise Investment Management reduced its stake in Colgate-Palmolive Company by 8.91% during the most recent quarter end. The investment management company now holds a total of 8,644 shares of Colgate-Palmolive Company which is valued at $640,348 after selling 846 shares in Colgate-Palmolive Company , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Colgate-Palmolive Company makes up approximately 0.22% of Tortoise Investment Management’s portfolio.

Other Hedge Funds, Including , Appleton Partners Incma reduced its stake in CL by selling 3,475 shares or 9.12% in the most recent quarter. The Hedge Fund company now holds 34,616 shares of CL which is valued at $2,564,353. Colgate-Palmolive Company makes up approx 0.51% of Appleton Partners Incma’s portfolio.Agf Investments reduced its stake in CL by selling 20,784 shares or 4.24% in the most recent quarter. The Hedge Fund company now holds 469,280 shares of CL which is valued at $34,764,262. Colgate-Palmolive Company makes up approx 0.38% of Agf Investments’s portfolio.La Financiere De L’echiquier reduced its stake in CL by selling 10,000 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 40,000 shares of CL which is valued at $2,964,800. Colgate-Palmolive Company makes up approx 2.38% of La Financiere De L’echiquier’s portfolio.Alecta Pensionsforsakring Omsesidigt reduced its stake in CL by selling 930,000 shares or 19.14% in the most recent quarter. The Hedge Fund company now holds 3,930,000 shares of CL which is valued at $287,990,400. Colgate-Palmolive Company makes up approx 2.85% of Alecta Pensionsforsakring Omsesidigt’s portfolio.

Colgate-Palmolive Company closed down -0.15 points or -0.20% at $74.43 with 22,23,383 shares getting traded on Monday. Post opening the session at $74.48, the shares hit an intraday low of $73.94 and an intraday high of $74.51 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Colgate-Palmolive Company reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.69. The company had revenue of $3845.00 million for the quarter, compared to analysts expectations of $3859.81 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on Colgate-Palmolive Company. Colgate-Palmolive Company was Downgraded by Exane BNP Paribas to ” Neutral” on Jul 29, 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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