Top 5 Stock Picks of Donald Sussman’s Paloma Partners

1. Colgate-Palmolive Company (NYSE:CL)

Paloma Partners Stake Value: $24,405,000
Percentage of Paloma Partners’ 13F Portfolio: 0.44%
Number of Hedge Fund Holders: 58

Colgate-Palmolive Company (NYSE:CL), the manufacturer and seller of consumer products, makes it way to the list of top 10 stock picks of Donald Sussman’s Paloma Partners. In the second quarter, the company’s revenue was $4.41 billion increasing 6.3% year over year.

On November 2, Berenberg analyst Fulvio Cazzol lowered his price target on Colgate-Palmolive to $77 from $85 and reiterated a “Hold” rating on the shares. Cazzol informs investors that the firm recorded mixed Q3 results, declining margins due to rising raw material and distribution expenses. In addition, the company announced a quarterly dividend of $0.45 per share, in line with the previous.

First Eagle Investment Management is the company’s largest shareholder, with shares worth $880.83 million. Overall, 58 hedge funds tracked by Insider Monkey have stakes in Colgate-Palmolive Company (NYSE:CL) in Q2 2021, up from 48 in the previous quarter.

First Eagle Investment Management, in its first-quarter 2021 investor letter, mentioned Colgate-Palmolive Company (NYSE:CL). Here is what the fund 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.”

You can also take a peek at Billionaire Stephen Mandel’s Top 10 Stock Picks and Growth Stock Portfolio: 10 Stock Picks By Hedge Funds

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