Livforsakringsbolaget Skandia Omsesidigt cut its position in shares of Clorox Co (NYSE:CLX) by 23.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,611 shares of the company’s stock after selling 800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Clorox were worth $393,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CLX. Cornerstone Wealth Management LLC purchased a new stake in Clorox during the second quarter valued at about $105,000. Fort L.P. purchased a new stake in Clorox during the second quarter valued at about $129,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Clorox during the third quarter valued at about $130,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Clorox by 1,297.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,621 shares of the company’s stock valued at $148,000 after buying an additional 1,505 shares in the last quarter. Finally, Legacy Advisors LLC purchased a new stake in Clorox during the third quarter valued at about $150,000. 78.38% of the stock is owned by institutional investors.
A number of research firms have commented on CLX. Deutsche Bank lowered shares of Clorox from a “hold” rating to a “sell” rating and set a $123.00 price objective for the company. in a research note on Wednesday, October 10th. Barclays set a $131.00 price objective on shares of Clorox and gave the company a “hold” rating in a research note on Saturday, October 6th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Clorox in a research note on Wednesday. Bank of America upped their price objective on shares of Clorox from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, July 16th. Finally, UBS Group started coverage on shares of Clorox in a research note on Wednesday, July 18th. They set a “sell” rating and a $110.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $138.29.
Clorox (NYSE:CLX) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.03. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. Clorox had a net margin of 13.44% and a return on equity of 103.18%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 earnings per share. Sell-side analysts predict that Clorox Co will post 6.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 31st will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, October 30th. Clorox’s dividend payout ratio (DPR) is 61.34%.
In related news, SVP Michael R. Costello sold 9,265 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $140.02, for a total transaction of $1,297,285.30. Following the transaction, the senior vice president now owns 34,293 shares of the company’s stock, valued at $4,801,705.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Linda J. Rendle sold 382 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $148.32, for a total transaction of $56,658.24. The disclosure for this sale can be found here. Insiders sold 29,268 shares of company stock valued at $4,196,686 over the last three months. 1.40% of the stock is owned by insiders.
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 fighter and color booster; 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, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.
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