Envestnet Asset Management Inc. Boosts Stake in Clorox Co (NYSE:CLX)
Envestnet Asset Management Inc. boosted its stake in Clorox Co (NYSE:CLX) by 68.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 249,826 shares of the company’s stock after buying an additional 101,138 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Clorox were worth $37,941,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake in Clorox by 2.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 42,790 shares of the company’s stock valued at $6,499,000 after buying an additional 1,000 shares in the last quarter. Syquant Capital Sas purchased a new position in shares of Clorox during the 3rd quarter worth $5,680,000. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Clorox by 37.1% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 5,595 shares of the company’s stock worth $850,000 after purchasing an additional 1,513 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Clorox by 24.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 477 shares of the company’s stock worth $72,000 after purchasing an additional 94 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of Clorox by 48.3% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 307 shares of the company’s stock worth $47,000 after purchasing an additional 100 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the company. UBS Group reduced their price target on Clorox from $128.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Barclays reissued a “sell” rating on shares of Clorox in a research note on Friday, October 4th. Credit Suisse Group reduced their price target on Clorox from $172.00 to $168.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Citigroup reduced their price target on Clorox from $167.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Finally, Bank of America reduced their price target on Clorox from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $152.25.
Clorox (NYSE:CLX) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.69 billion. Clorox had a return on equity of 118.88% and a net margin of 13.20%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 EPS. Equities research analysts anticipate that Clorox Co will post 6.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, October 30th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.83%. Clorox’s payout ratio is 67.09%.
In other news, SVP Michael R. Costello sold 3,225 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $161.34, for a total transaction of $520,321.50. Following the completion of the sale, the senior vice president now directly owns 29,669 shares in the company, valued at approximately $4,786,796.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael R. Costello sold 6,997 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $162.56, for a total value of $1,137,432.32. Following the sale, the senior vice president now owns 29,016 shares of the company’s stock, valued at $4,716,840.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,609 shares of company stock valued at $2,497,443. Insiders own 1.14% 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 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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