Signaturefd LLC lowered its position in Clorox Co (NYSE:CLX) by 24.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,271 shares of the company’s stock after selling 408 shares during the period. Signaturefd LLC’s holdings in Clorox were worth $172,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CLX. Cornerstone Wealth Management LLC bought a new position in Clorox during the second quarter valued at about $105,000. Ostrum Asset Management bought a new position in Clorox during the first quarter valued at about $112,000. Fort L.P. bought a new position in Clorox during the second quarter valued at about $129,000. Whittier Trust Co. of Nevada Inc. grew its position 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 during the period. Finally, IMS Capital Management bought a new position in Clorox during the second quarter valued at about $161,000. Institutional investors own 78.14% of the company’s stock.
Shares of NYSE:CLX opened at $151.38 on Friday. The company has a debt-to-equity ratio of 3.15, a current ratio of 1.09 and a quick ratio of 0.67. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 3.12 and a beta of 0.35. Clorox Co has a twelve month low of $113.57 and a twelve month high of $152.39.
Clorox declared that its board has approved a share repurchase plan on Thursday, May 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 12.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other Clorox news, EVP Laura Stein sold 12,880 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $144.10, for a total transaction of $1,856,008.00. Following the completion of the transaction, the executive vice president now owns 74,483 shares in the company, valued at $10,733,000.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael R. Costello sold 9,265 shares of the stock in a transaction dated Monday, August 13th. The stock was 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 approximately $4,801,705.86. The disclosure for this sale can be found here. Insiders have sold 29,268 shares of company stock valued at $4,196,686 in the last quarter. Company insiders own 1.00% of the company’s stock.
Several equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Clorox from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Bank of America increased their price target on shares of Clorox from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. UBS Group assumed coverage on shares of Clorox in a research report on Wednesday, July 18th. They set a “sell” rating and a $110.00 price target for the company. Goldman Sachs Group lowered shares of Clorox from a “neutral” rating to a “sell” rating and reduced their price target for the company from $127.00 to $112.00 in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “buy” rating and set a $153.00 price target on shares of Clorox in a research report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $130.42.
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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