Again Refrain From Messaging Through Cl as It Will Not Work.
Most investors tend to think that hedge funds and other asset managers are worthless, as they cannot beat even unproblematic alphabetize fund portfolios. In fact, near people expect hedge funds to compete with and outperform the bull market that we have witnessed in recent years. However, hedge funds are mostly partially hedged and aim at delivering bonny run a risk-adapted returns rather than following the ups and downs of equity markets hoping that they will outperform the broader market. Our research shows that certain hedge funds do have great stock picking skills (and we can place these hedge funds in advance pretty accurately), and then let's have a glance at the smart coin sentiment towards Colgate-Palmolive Visitor (NYSE:CL).
Is CL a good stock to buy now? Prominent investors were getting less optimistic. The number of bullish hedge fund bets were trimmed by 3 lately. Colgate-Palmolive Visitor (NYSE:CL) was in 47 hedge funds' portfolios at the end of September. The all time high for this statistic is 53. Our calculations likewise showed that CL isn't amid the 30 about popular stocks among hedge funds (click for Q3 rankings and see the video for a quick look at the top 5 stocks).
Video: Watch our video about the top five nearly pop hedge fund stocks.
In the financial world there are dozens of metrics shareholders employ to assess publicly traded companies. Some of the less utilized metrics are hedge fund and insider trading indicators. We take shown that, historically, those who follow the top picks of the best fund managers can beat the broader indices by a solid amount (run into the details here).
Ray Dalio of Bridgewater Associates
At Insider Monkey we exit no stone unturned when looking for the side by side great investment idea. For example, the House passed a landmark bill decriminalizing marijuana. And so, nosotros are checking out this cannabis tech stock right now. We get through lists like the xv best blue chip stocks to buy to pick the best big-cap stocks to buy. Fifty-fifty though we recommend positions in only a tiny fraction of the companies we clarify, we check out as many stocks as nosotros can. We read hedge fund investor messages and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website. With all of this in listen let'southward take a look at the new hedge fund activeness surrounding Colgate-Palmolive Visitor (NYSE:CL).
Do Hedge Funds Retrieve CL Is A Good Stock To Buy Now?
At Q3's end, a total of 47 of the hedge funds tracked by Insider Monkey were long this stock, a change of -6% from one quarter before. Beneath, you can cheque out the alter in hedge fund sentiment towards CL over the final 21 quarters. With hedge funds' sentiment swirling, at that place exists an "upper tier" of noteworthy hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Renaissance Technologies has the largest position in Colgate-Palmolive Company (NYSE:CL), worth close to $347.9 million, comprising 0.iii% of its full 13F portfolio. The second most bullish fund director is GuardCap Asset Management, led by Guardian Capital, holding a $240.iv million position; the fund has 7.viii% of its 13F portfolio invested in the stock. Other members of the smart coin with similar optimism include Cliff Asness's AQR Capital letter Management, D. E. Shaw's D E Shaw and Peter Rathjens, Bruce Clarke and John Campbell's Arrowstreet Uppercase. In terms of the portfolio weights assigned to each position GuardCap Nugget Management allocated the biggest weight to Colgate-Palmolive Company (NYSE:CL), around seven.8% of its 13F portfolio. Ayrshire Uppercase Management is too relatively very bullish on the stock, designating 2.03 percent of its 13F equity portfolio to CL.
Seeing as Colgate-Palmolive Company (NYSE:CL) has witnessed bearish sentiment from the aggregate hedge fund industry, information technology's safety to say that there is a sect of fund managers that decided to sell off their total holdings by the end of the third quarter. Interestingly, Robert Thousand. P. Luciano'south VGI Partners cut the biggest pale of the "upper crust" of funds tracked past Insider Monkey, valued at an estimated $78.five meg in stock, and Barry Dargan'south Intermede Investment Partners was right behind this motility, as the fund said goodbye to nigh $44.three million worth. These bearish behaviors are intriguing to say the to the lowest degree, every bit total hedge fund involvement was cut by 3 funds by the finish of the third quarter.
Allow'south at present take a look at hedge fund activity in other stocks - not necessarily in the same industry as Colgate-Palmolive Visitor (NYSE:CL) but similarly valued. We will accept a expect at FedEx Corporation (NYSE:FDX), Air Products & Chemicals, Inc. (NYSE:APD), Duke Energy Corporation (NYSE:DUK), Uber Technologies, Inc. (NYSE:UBER), The Sherwin-Williams Company (NYSE:SHW), Activision Blizzard, Inc. (NASDAQ:ATVI), and Cigna Corporation (NYSE:CI). This group of stocks' market values match CL's marketplace value.
[table] Ticker, No of HFs with positions, Full Value of HF Positions (x1000), Alter in HF Position FDX,71,2579950,25 APD,49,745333,12 DUK,36,756631,iii UBER,100,5978770,6 SHW,55,1779583,2 ATVI,93,4222431,-4 CI,62,2751729,-x Average,66.6,2687775,4.ix [/table]
View table here if you feel formatting problems.
As you can come across these stocks had an average of 66.6 hedge funds with bullish positions and the average amount invested in these stocks was $2688 million. That effigy was $1541 million in CL's case. Uber Technologies, Inc. (NYSE:UBER) is the most pop stock in this tabular array. On the other hand Duke Energy Corporation (NYSE:DUK) is the to the lowest degree popular 1 with only 36 bullish hedge fund positions. Colgate-Palmolive Company (NYSE:CL) is non the least pop stock in this grouping but hedge fund interest is still below average. Our overall hedge fund sentiment score for CL is 37.2. Stocks with higher number of hedge fund positions relative to other stocks too as relative to their historical range receive a higher sentiment score. Our calculations showed that superlative xx most popular stocks among hedge funds returned 41.three% in 2019 and outperformed the S&P 500 ETF (SPY) by ten percent points. These stocks gained 32.9% in 2020 through December 8th and beat the market by 16.2 percentage points. A small number of hedge funds were also right almost betting on CL, though not to the same extent, as the stock returned 11% since the end of Q3 (through December 8th) and outperformed the market.
Go real-time e-mail alerts: Follow Colgate Palmolive Co (NYSE:CL)
Disclosure: None. This article was originally published at Insider Monkey.
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Source: https://finance.yahoo.com/news/cl-good-stock-buy-now-193905895.html
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