In this article, we will discuss 5 new stocks for 2021 to buy now according to Qing Li’s Sciencast Management Portfolio based on Q2 holdings of the fund. If you want to read our detailed analysis of Li’s history, investment philosophy, and hedge fund performance, go directly to the 10 New Stocks for 2021: Qing Li’s Sciencast Management Portfolio.
5. Colgate-Palmolive Company (NYSE:CL)
Li’s Stake Value: $4,556,000
Percentage of Qing Li’s 13F Portfolio: 0.95%
Number of Hedge Fund Holders: 58
Colgate-Palmolive is a US-based multinational consumer product company that specializes in manufacturing, retailing, and provision of household, veterinary, and healthcare products. Qing Li’s Sciencast management holds 55,326 shares in Colgate-Palmolive Company (NYSE: CL) that amount to over $4.55 million.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm First Eagle Management is a leading shareholder in Colgate-Palmolive Company (NYSE: CL) with 11.8 million shares worth more than $963 million.
On September 20, Deutsche Bank upgraded Colgate-Palmolive Company (NYSE: CL) to Buy from Hold, citing that the company has inculcated a ‘growth mindset’ over the past few years. The company also met the analysts’ EPS estimate of $0.80 for the second quarter of 2021.
Colgate-Palmolive Company (NYSE: CL) saw an increase in hedge fund sentiment recently. Based on the data of the 873 funds tracked, the number of hedge fund positions in Colgate-Palmolive Company (NYSE: CL) increased to 58 at the end of the second quarter of 2021 compared to 48 in the first quarter.
First Eagle Management mentioned Colgate Palmolive Co. (NYSE: CL) in their Q1 2021 investor letter. Here’s what the investment management firm said:
“The leading detractors in the quarter (included) Colgate-Palmolive Company. After a strong 2020 fueled in part by lockdown-driven demand, consumer staples stocks generally cooled during the first quarter as investors shifted attention to the more economically sensitive areas of the market likely to benefit from re-openings and improved discretionary spending. The effects of this rotation could be seen in the share price underperformance of names like Colgate-Palmolive.”