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Hedge Funds Are Betting On Colgate-Palmolive Company (CL)

Now, key hedge funds were breaking ground themselves. Hutchin Hill Capital, managed by Neil Chriss, created the most valuable call position in Colgate-Palmolive Company (NYSE:CL). The fund had $44.5 million invested in call options at the end of the quarter. Anand Parekh’s Alyeska Investment Group also made a $42.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Bruce Kovner’s Caxton Associates LP, and George Hall’s Clinton Group.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Colgate-Palmolive Company (NYSE:CL) but similarly valued. These stocks are Texas Instruments Incorporated (NASDAQ:TXN), Canon Inc. (ADR) (NYSE:CAJ), Inc (NASDAQ:PCLN), and Goldman Sachs Group, Inc. (NYSE:GS). This group of stocks’ market values match CL’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TXN 37 943996 6
CAJ 5 36687 -1
PCLN 98 8188039 13
GS 63 4772004 -5

As you can see these stocks had an average of 51 hedge funds with bullish positions and the average amount invested in these stocks was $3.48 billion. That figure was roughly $1.88 billion in CL’s case. Inc (NASDAQ:PCLN) is the most popular stock in this table. On the other hand Canon Inc. (ADR) (NYSE:CAJ) is the least popular one with only 5 bullish hedge fund positions. Colgate-Palmolive Company (NYSE:CL) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PCLN might be a better candidate to consider a long position.

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