Zacks Investment Research downgraded shares of Colgate-Palmolive Company (NYSE:CL) from a hold rating to a sell rating in a research report report published on Wednesday morning.

According to Zacks, “Colgate, which has underperformed the industry in the past three months, has a dismal sales surprise history. Evidently, the company has lagged sales estimates in 16 out of the trailing 17 quarters. Well, Colgate marked its fifth straight sales miss in the last reported quarter, mainly due to continued softness in North America and challenges in Asia-Pacific. Furthermore, low global unit volumes and adverse currency fluctuations were deterrents. Going forward, the company anticipates the backdrop to remain challenging due to uncertain global markets and slowing category growth worldwide. Consequently, the company lowered its organic sales growth and GAAP earnings guidance for 2017. Nevertheless, we commend Colgate’s progress on its 2012 Restructuring Program. Notably, management expects additional opportunities identified under the program to help reach the higher end of its previously stated cost and savings forecast.”

CL has been the subject of a number of other reports. Royal Bank Of Canada reissued a hold rating and issued a $74.00 target price on shares of Colgate-Palmolive in a research report on Thursday, May 25th. BidaskClub cut Colgate-Palmolive from a sell rating to a strong sell rating in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a hold rating and issued a $79.00 target price on shares of Colgate-Palmolive in a research report on Thursday, August 24th. Deutsche Bank AG reissued a hold rating and issued a $75.00 target price on shares of Colgate-Palmolive in a research report on Monday, July 24th. Finally, Wells Fargo & Company reissued a market perform rating on shares of Colgate-Palmolive in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $75.83.

Shares of Colgate-Palmolive (NYSE CL) traded down 0.36% on Wednesday, reaching $72.29. The company had a trading volume of 110,315 shares. Colgate-Palmolive has a 52 week low of $63.43 and a 52 week high of $77.27. The firm has a market capitalization of $63.68 billion, a P/E ratio of 26.86 and a beta of 0.80. The company’s 50-day moving average price is $71.58 and its 200 day moving average price is $73.27.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.72. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Colgate-Palmolive had a return on equity of 3,121.95% and a net margin of 15.83%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. On average, analysts expect that Colgate-Palmolive will post $2.89 EPS for the current year.

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In related news, COO Justin Skala sold 74,374 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $72.51, for a total value of $5,392,858.74. Following the completion of the transaction, the chief operating officer now directly owns 97,177 shares of the company’s stock, valued at approximately $7,046,304.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patricia Verduin sold 3,833 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $72.41, for a total value of $277,547.53. Following the completion of the transaction, the insider now directly owns 53,022 shares of the company’s stock, valued at $3,839,323.02. The disclosure for this sale can be found here. Insiders sold a total of 217,969 shares of company stock valued at $15,693,933 over the last three months. Insiders own 1.02% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Chip Partners Inc. increased its stake in Colgate-Palmolive by 0.4% in the 1st quarter. Blue Chip Partners Inc. now owns 1,805 shares of the company’s stock valued at $132,000 after purchasing an additional 8 shares in the last quarter. Cue Financial Group Inc. increased its stake in Colgate-Palmolive by 0.3% in the 2nd quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock valued at $360,000 after purchasing an additional 14 shares in the last quarter. Cornerstone Financial Partners LLC increased its stake in Colgate-Palmolive by 0.5% in the 2nd quarter. Cornerstone Financial Partners LLC now owns 3,813 shares of the company’s stock valued at $282,000 after purchasing an additional 19 shares in the last quarter. M Holdings Securities Inc. increased its stake in Colgate-Palmolive by 0.4% in the 1st quarter. M Holdings Securities Inc. now owns 5,366 shares of the company’s stock valued at $393,000 after purchasing an additional 21 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its stake in Colgate-Palmolive by 1.5% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock valued at $126,000 after purchasing an additional 25 shares in the last quarter. 73.10% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.

Analyst Recommendations for Colgate-Palmolive (NYSE:CL)

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