Dai Ichi Life Insurance Company Ltd Has $13.73 Million Stake in Clorox Co (CLX)
Dai Ichi Life Insurance Company Ltd increased its holdings in shares of Clorox Co (NYSE:CLX) by 13.8% during the second quarter, HoldingsChannel.com reports. The fund owned 101,509 shares of the company’s stock after buying an additional 12,315 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Clorox were worth $13,729,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Reilly Herbert Faulkner III boosted its holdings in Clorox by 2.0% in the 2nd quarter. Reilly Herbert Faulkner III now owns 38,166 shares of the company’s stock worth $5,162,000 after buying an additional 750 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Clorox by 757.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 104,458 shares of the company’s stock worth $14,125,000 after buying an additional 92,280 shares during the last quarter. Azimuth Capital Management LLC boosted its holdings in Clorox by 11.8% in the 2nd quarter. Azimuth Capital Management LLC now owns 15,860 shares of the company’s stock worth $2,145,000 after buying an additional 1,675 shares during the last quarter. Ingalls & Snyder LLC acquired a new stake in Clorox in the 2nd quarter worth about $247,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Clorox by 15.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 31,365 shares of the company’s stock worth $4,242,000 after buying an additional 4,304 shares during the last quarter. Hedge funds and other institutional investors own 78.15% of the company’s stock.
Several equities research analysts recently issued reports on CLX shares. Barclays set a $124.00 price objective on Clorox and gave the stock a “hold” rating in a report on Thursday, May 3rd. Morgan Stanley lowered their price objective on Clorox from $116.00 to $113.00 and set an “underweight” rating on the stock in a report on Thursday, May 3rd. BMO Capital Markets lowered their price objective on Clorox from $147.00 to $131.00 and set an “outperform” rating on the stock in a report on Thursday, May 3rd. Goldman Sachs Group cut Clorox from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $127.00 to $112.00 in a report on Tuesday, July 17th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Clorox from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. Clorox presently has a consensus rating of “Hold” and an average target price of $130.42.
Clorox (NYSE:CLX) last released its earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, topping the Zacks’ 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 business 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 posted $1.53 EPS. The business’s revenue was up 2.7% on a year-over-year basis. sell-side analysts forecast that Clorox Co will post 6.41 EPS for the current fiscal year.
Clorox announced that its board has approved a stock buyback plan on Thursday, May 24th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 12.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other Clorox news, EVP Jon M. Balousek sold 3,354 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $144.73, for a total value of $485,424.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael R. Costello sold 9,265 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly 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.
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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