BRYN MAWR TRUST Co decreased its position in Clorox Co (NYSE:CLX) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,294 shares of the company’s stock after selling 2,182 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Clorox were worth $3,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in CLX. Cornerstone Wealth Management LLC bought a new stake in Clorox in the 2nd quarter worth approximately $105,000. Centaurus Financial Inc. bought a new stake in Clorox in the 1st quarter worth approximately $106,000. Ostrum Asset Management bought a new stake in Clorox in the 1st quarter worth approximately $112,000. Fort L.P. bought a new stake in Clorox in the 2nd quarter worth approximately $129,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Clorox by 1,297.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,621 shares of the company’s stock worth $148,000 after acquiring an additional 1,505 shares during the last quarter. 78.14% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Michael R. Costello sold 9,265 shares of the business’s stock in a transaction 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 owns 34,293 shares in the company, valued at approximately $4,801,705.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Linda J. Rendle sold 382 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $148.32, for a total value of $56,658.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,268 shares of company stock valued at $4,196,686. Company insiders own 1.00% of the company’s stock.
Shares of Clorox stock opened at $150.56 on Tuesday. The company has a market capitalization of $19.31 billion, a PE ratio of 26.35, a P/E/G ratio of 3.12 and a beta of 0.35. The company has a debt-to-equity ratio of 3.15, a current ratio of 1.09 and a quick ratio of 0.67. Clorox Co has a one year low of $113.57 and a one year high of $152.39.
Clorox (NYSE:CLX) last announced its earnings results on Thursday, August 2nd. The company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.08. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Clorox had a return on equity of 103.18% and a net margin of 13.44%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. research analysts forecast that Clorox Co will post 6.41 earnings per share for the current year.
Clorox declared that its board has initiated a share buyback plan on Thursday, May 24th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 12.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of analysts have issued reports on CLX shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Clorox in a research note on Friday, August 3rd. ValuEngine raised Clorox from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Bank of America lifted their price objective on Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. UBS Group started coverage on Clorox in a research note on Wednesday, July 18th. They issued a “sell” rating and a $110.00 price objective on the stock. Finally, Goldman Sachs Group downgraded Clorox from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $127.00 to $112.00 in a research note on Tuesday, July 17th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently 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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