Toronto Dominion Bank grew its stake in shares of Clorox Co (NYSE:CLX) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,244 shares of the company’s stock after purchasing an additional 13,520 shares during the period. Toronto Dominion Bank owned approximately 0.06% of Clorox worth $11,257,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Clorox during the 2nd quarter worth $105,000. Centaurus Financial Inc. purchased a new stake in shares of Clorox during the 1st quarter worth $106,000. Ostrum Asset Management purchased a new stake in shares of Clorox in the 1st quarter worth about $112,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Clorox by 1,297.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,621 shares of the company’s stock worth $148,000 after buying an additional 1,505 shares in the last quarter. Finally, IMS Capital Management purchased a new stake in shares of Clorox in the 2nd quarter worth about $161,000. Institutional investors own 78.44% of the company’s stock.
In related news, SVP Michael R. Costello sold 9,265 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $140.02, for a total value of $1,297,285.30. Following the completion of the transaction, the senior vice president now owns 34,293 shares of the company’s stock, valued at approximately $4,801,705.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.
CLX has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Clorox from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Goldman Sachs Group lowered shares of Clorox from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $127.00 to $112.00 in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Bank of America boosted their price objective on shares of Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Citigroup decreased their price objective on shares of Clorox from $139.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, May 4th. Finally, Morgan Stanley decreased their price objective on shares of Clorox from $116.00 to $113.00 and set an “underweight” rating on the stock in a research report on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $130.42.
Shares of CLX stock opened at $148.23 on Tuesday. Clorox Co has a twelve month low of $113.57 and a twelve month high of $150.40. The stock has a market capitalization of $18.90 billion, a P/E ratio of 23.68, a PEG ratio of 3.05 and a beta of 0.36. The company has a debt-to-equity ratio of 3.15, a current ratio of 1.09 and a quick ratio of 0.67.
Clorox (NYSE:CLX) last announced its earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Clorox had a net margin of 13.44% and a return on equity of 103.18%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $1.53 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. analysts expect that Clorox Co will post 6.41 EPS for the current year.
Clorox declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 12.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighters and color boosters; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.
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