Ontario Teachers Pension Plan Board trimmed its holdings in Clorox Co (NYSE:CLX) by 5.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,474 shares of the company’s stock after selling 860 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Clorox were worth $1,958,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Azimuth Capital Management LLC boosted its holdings in shares of Clorox by 11.8% in the second quarter. Azimuth Capital Management LLC now owns 15,860 shares of the company’s stock valued at $2,145,000 after acquiring an additional 1,675 shares during the period. Ingalls & Snyder LLC acquired a new stake in shares of Clorox in the second quarter valued at approximately $247,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Clorox by 15.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 31,365 shares of the company’s stock valued at $4,242,000 after acquiring an additional 4,304 shares during the period. Cox Capital Co LLC acquired a new stake in shares of Clorox in the second quarter valued at approximately $943,000. Finally, FMR LLC boosted its holdings in shares of Clorox by 201.0% in the second quarter. FMR LLC now owns 472,179 shares of the company’s stock valued at $63,863,000 after acquiring an additional 315,298 shares during the period. 78.14% of the stock is owned by hedge funds and other institutional investors.
CLX has been the subject of several research analyst reports. Zacks Investment Research raised Clorox from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine raised Clorox from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Bank of America increased their price objective on Clorox from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, July 16th. Goldman Sachs Group lowered Clorox from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $127.00 to $112.00 in a research note on Tuesday, July 17th. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on Clorox in a research note on Wednesday, July 18th. They set a “sell” rating and a $110.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $130.42.
Shares of NYSE:CLX opened at $146.12 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 3.15. Clorox Co has a 12-month low of $113.57 and a 12-month high of $150.40. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35.
Clorox (NYSE:CLX) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Clorox had a return on equity of 103.18% and a net margin of 13.44%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $1.53 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. sell-side analysts expect that Clorox Co will post 6.41 earnings per share for the current year.
Clorox declared that its board has approved a share repurchase program on Thursday, May 24th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 12.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Jon M. Balousek sold 3,354 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $144.73, for a total value of $485,424.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael R. Costello sold 9,265 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was 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 in the company, valued at $4,801,705.86. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Clorox Company Profile
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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