Bank of Nova Scotia Lowers Holdings in The Clorox Company $CLX

Bank of Nova Scotia reduced its position in The Clorox Company (NYSE:CLX) by 88.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,118 shares of the company’s stock after selling 150,515 shares during the quarter. Bank of Nova Scotia’s holdings in Clorox were worth $1,981,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CLX. Wilkins Investment Counsel Inc. boosted its stake in Clorox by 250.6% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 55,064 shares of the company’s stock valued at $5,552,000 after acquiring an additional 39,360 shares in the last quarter. Morningstar Investment Management LLC increased its position in shares of Clorox by 131.8% during the fourth quarter. Morningstar Investment Management LLC now owns 62,454 shares of the company’s stock worth $6,297,000 after purchasing an additional 35,506 shares in the last quarter. National Pension Service lifted its holdings in shares of Clorox by 68.9% during the 4th quarter. National Pension Service now owns 27,537 shares of the company’s stock valued at $2,777,000 after purchasing an additional 11,233 shares during the last quarter. Birch Hill Investment Advisors LLC purchased a new stake in shares of Clorox during the 4th quarter valued at $22,103,000. Finally, Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Clorox in the 4th quarter worth $1,966,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Insider Buying and Selling

In other news, Director Pierre R. Breber purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were bought at an average cost of $85.82 per share, for a total transaction of $429,100.00. Following the completion of the purchase, the director directly owned 18,000 shares of the company’s stock, valued at approximately $1,544,760. This trade represents a 38.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is owned by company insiders.

Clorox Stock Performance

NYSE CLX opened at $99.67 on Thursday. The stock has a fifty day simple moving average of $95.46 and a 200-day simple moving average of $103.79. The Clorox Company has a twelve month low of $84.70 and a twelve month high of $128.90. The company has a current ratio of 0.84, a quick ratio of 0.65 and a debt-to-equity ratio of 27.03. The stock has a market cap of $12.05 billion, a PE ratio of 16.18 and a beta of 0.54.

Clorox (NYSE:CLX) last announced its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.09. Clorox had a net margin of 11.18% and a return on equity of 443.64%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $1.45 earnings per share. Clorox’s revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that The Clorox Company will post 5.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CLX shares. Barclays raised their price target on Clorox from $85.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $94.00 price objective on shares of Clorox in a report on Wednesday, July 22nd. Citigroup decreased their price objective on shares of Clorox from $110.00 to $97.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Wells Fargo & Company lowered their target price on shares of Clorox from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, May 18th. Finally, Evercore reissued an “underperform” rating and set a $98.00 target price on shares of Clorox in a research report on Thursday, July 23rd. Twelve investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $101.00.

Clorox Company Profile

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.