Colgate-Palmolive Company (NYSE:CL) has experienced a decrease in hedge fund interest of late.
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Consequently, let's take a gander at the key action surrounding Colgate-Palmolive Company (NYSE:CL).
In preparation for this quarter, a total of 29 of the hedge funds we track were long in this stock, a change of -6% from the first quarter. With the smart money's positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their stakes considerably.
According to our comprehensive database, Jim Simons's Renaissance Technologies had the largest position in Colgate-Palmolive Company (NYSE:CL), worth close to $490.9 million, accounting for 1.2% of its total 13F portfolio. Sitting at the No. 2 spot is Lansdowne Partners, managed by Paul Ruddock and Steve Heinz, which held a $462.2 million position; the fund has 6.3% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include Jean-Marie Eveillard's First Eagle Investment Management, William von Mueffling's Cantillon Capital Management and Bill Miller's Legg Mason Capital Management.
Judging by the fact that Colgate-Palmolive Company (NYSE:CL) has witnessed bearish sentiment from the entirety of the hedge funds we track, it's safe to say that there exists a select few hedgies that decided to sell off their entire stakes last quarter. Intriguingly, David Blood and Al Gore's Generation Investment Management dumped the largest stake of the 450+ funds we track, comprising an estimated $78.6 million in stock., and Ray Dalio of Bridgewater Associates was right behind this move, as the fund dropped about $11.1 million worth. These transactions are important to note, as total hedge fund interest fell by 2 funds last quarter.
Insider trading activity, especially when it's bullish, is best served when the company in question has experienced transactions within the past six months. Over the latest half-year time period, Colgate-Palmolive Company (NYSE:CL) has experienced zero unique insiders buying, and 24 insider sales (see the details of insider trades here).
Let's go over hedge fund and insider activity in other stocks similar to Colgate-Palmolive Company (NYSE:CL). These stocks are Energizer Holdings, Inc. (NYSE:ENR), Avon Products, Inc. (NYSE:AVP), The Procter & Gamble Company (NYSE:PG), Estee Lauder Companies Inc (NYSE:EL), and Kimberly Clark Corp (NYSE:KMB). This group of stocks are the members of the personal products industry and their market caps resemble CL's market cap.