Reilly Herbert Faulkner III Acquires 750 Shares of Clorox Co (CLX)
Reilly Herbert Faulkner III raised its holdings in shares of Clorox Co (NYSE:CLX) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,166 shares of the company’s stock after acquiring an additional 750 shares during the quarter. Clorox makes up 2.8% of Reilly Herbert Faulkner III’s investment portfolio, making the stock its 20th largest position. Reilly Herbert Faulkner III’s holdings in Clorox were worth $5,162,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CLX. Unigestion Holding SA purchased a new stake in shares of Clorox during the second quarter worth about $73,819,000. Schroder Investment Management Group grew its holdings in shares of Clorox by 107.7% during the first quarter. Schroder Investment Management Group now owns 959,288 shares of the company’s stock worth $127,691,000 after buying an additional 497,427 shares in the last quarter. FMR LLC grew its holdings in shares of Clorox by 201.0% during the second quarter. FMR LLC now owns 472,179 shares of the company’s stock worth $63,863,000 after buying an additional 315,298 shares in the last quarter. BTIM Corp. grew its holdings in shares of Clorox by 1,202.4% during the second quarter. BTIM Corp. now owns 217,560 shares of the company’s stock worth $29,425,000 after buying an additional 200,856 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Clorox by 18.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 804,204 shares of the company’s stock worth $107,048,000 after buying an additional 126,312 shares in the last quarter. Hedge funds and other institutional investors own 78.15% of the company’s stock.
Shares of CLX traded up $0.11 during mid-day trading on Friday, hitting $145.11. The company had a trading volume of 5,980 shares, compared to its average volume of 1,096,001. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.67 and a current ratio of 1.09. Clorox Co has a 1-year low of $113.57 and a 1-year high of $150.40. The stock has a market capitalization of $18.54 billion, a PE ratio of 23.08, a P/E/G ratio of 3.00 and a beta of 0.36.
Clorox announced that its board has initiated a stock buyback program on Thursday, May 24th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 12.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related 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 legal filing with the SEC, which is available through this link. 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 sale, 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. 1.00% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on CLX shares. Barclays set a $124.00 price target on shares of Clorox and gave the stock a “hold” rating in a report on Thursday, May 3rd. Morgan Stanley lowered their price target on shares of Clorox from $116.00 to $113.00 and set an “underweight” rating for the company in a report on Thursday, May 3rd. BMO Capital Markets lowered their price target on shares of Clorox from $147.00 to $131.00 and set an “outperform” rating for the company in a report on Thursday, May 3rd. Goldman Sachs Group downgraded shares of Clorox from a “neutral” rating to a “sell” rating and lowered their price target 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 shares of Clorox from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus 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 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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