Massachusetts Financial Services Co Lowers stake in Colgate-Palmolive Company (CL)

Colgate-Palmolive Company (CL) : Massachusetts Financial Services Co reduced its stake in Colgate-Palmolive Company by 17.45% during the most recent quarter end. The investment management company now holds a total of 27,756,778 shares of Colgate-Palmolive Company which is valued at $2,080,925,647 after selling 5,869,218 shares in Colgate-Palmolive Company , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Colgate-Palmolive Company makes up approximately 1.01% of Massachusetts Financial Services Co’s portfolio.

Other Hedge Funds, Including , Spf Beheer Bv reduced its stake in CL by selling 49,204 shares or 5.16% in the most recent quarter. The Hedge Fund company now holds 904,550 shares of CL which is valued at $67,741,750. Colgate-Palmolive Company makes up approx 3.45% of Spf Beheer Bv’s portfolio.Pinnacle Wealth Management Advisory Group boosted its stake in CL in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 4,042 shares of Colgate-Palmolive Company which is valued at $301,452. Colgate-Palmolive Company makes up approx 0.23% of Pinnacle Wealth Management Advisory Group’s portfolio.Independence Trust Co boosted its stake in CL in the latest quarter, The investment management firm added 990 additional shares and now holds a total of 36,692 shares of Colgate-Palmolive Company which is valued at $2,737,590. Colgate-Palmolive Company makes up approx 4.09% of Independence Trust Co’s portfolio.

Colgate-Palmolive Company opened for trading at $74.44 and hit $74.93 on the upside on Monday, eventually ending the session at $74.81, with a gain of 0.46% or 0.34 points. The heightened volatility saw the trading volume jump to 23,97,578 shares. Company has a market cap of $66,693 M.

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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