People s United Financial Inc. cut its holdings in Clorox Co (NYSE:CLX) by 20.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,574 shares of the company’s stock after selling 4,312 shares during the quarter. People s United Financial Inc.’s holdings in Clorox were worth $2,241,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new position in Clorox in the second quarter valued at $105,000. Centaurus Financial Inc. acquired a new position in Clorox in the first quarter valued at $106,000. Ostrum Asset Management acquired a new position in Clorox in the first quarter valued at $112,000. Whittier Trust Co. of Nevada Inc. increased its stake in Clorox by 1,297.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,621 shares of the company’s stock valued at $148,000 after purchasing an additional 1,505 shares during the period. Finally, IMS Capital Management acquired a new position in Clorox in the second quarter valued at $161,000. Institutional investors own 78.44% of the company’s stock.
A number of research analysts have commented on the stock. BMO Capital Markets restated a “buy” rating and issued a $153.00 price objective on shares of Clorox in a research note on Friday, August 3rd. UBS Group started coverage on shares of Clorox in a research note on Wednesday, July 18th. They set a “sell” rating and a $110.00 price target on the stock. Goldman Sachs Group lowered shares of Clorox from a “neutral” rating to a “sell” rating and dropped their price target 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. Bank of America boosted their price target on shares of Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. Finally, ValuEngine upgraded shares of Clorox from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $130.42.
In related news, SVP Michael R. Costello sold 9,265 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $140.02, for a total transaction of $1,297,285.30. Following the sale, the senior vice president now owns 34,293 shares of the company’s stock, valued at $4,801,705.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.
Shares of Clorox stock opened at $148.23 on Tuesday. Clorox Co has a 52-week low of $113.57 and a 52-week high of $150.40. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 3.15. The stock has a market cap of $18.90 billion, a PE ratio of 23.68, a PEG ratio of 3.05 and a beta of 0.36.
Clorox (NYSE:CLX) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.72 billion. Clorox had a net margin of 13.44% and a return on equity of 103.18%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 earnings per share. equities analysts anticipate that Clorox Co will post 6.41 earnings per share for the current fiscal year.
Clorox announced that its board has approved a share repurchase program on Thursday, May 24th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 12.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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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