Smith Asset Management Group LP Reduces Stake in Clorox Co. (CLX)
Smith Asset Management Group LP decreased its stake in Clorox Co. (NYSE:CLX) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 582,869 shares of the company’s stock after selling 7,649 shares during the period. Clorox makes up approximately 2.4% of Smith Asset Management Group LP’s investment portfolio, making the stock its 3rd largest position. Smith Asset Management Group LP’s holdings in Clorox were worth $80,663,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Carroll Financial Associates Inc. boosted its stake in Clorox by 4.1% in the first quarter. Carroll Financial Associates Inc. now owns 3,348 shares of the company’s stock valued at $422,000 after buying an additional 131 shares in the last quarter. Boston Advisors LLC boosted its stake in Clorox by 3,342.7% in the first quarter. Boston Advisors LLC now owns 171,859 shares of the company’s stock valued at $21,665,000 after buying an additional 166,867 shares in the last quarter. Kelman Lazarov Inc. purchased a new stake in Clorox during the first quarter valued at $1,504,000. QUANTRES ASSET MANAGEMENT Ltd boosted its stake in Clorox by 192.0% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 7,300 shares of the company’s stock valued at $920,000 after buying an additional 4,800 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in Clorox by 137.8% in the first quarter. Private Trust Co. NA now owns 4,088 shares of the company’s stock valued at $515,000 after buying an additional 2,369 shares in the last quarter. 70.17% of the stock is owned by institutional investors and hedge funds.
Clorox Co. (NYSE:CLX) traded up 0.63% during mid-day trading on Tuesday, reaching $123.44. 1,120,012 shares of the company’s stock were exchanged. Clorox Co. has a one year low of $113.37 and a one year high of $140.47. The stock has a 50-day moving average of $129.50 and a 200-day moving average of $130.10. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of 25.09 and a beta of 0.33.
Clorox (NYSE:CLX) last posted its earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by $0.02. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Clorox had a net margin of 11.25% and a return on equity of 296.91%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. On average, equities research analysts anticipate that Clorox Co. will post $5.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Wednesday, October 26th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Monday, October 24th. Clorox’s payout ratio is presently 64.91%.
Several research firms recently weighed in on CLX. Zacks Investment Research raised shares of Clorox from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $131.00 target price (up previously from $125.00) on shares of Clorox in a report on Friday, July 15th. Deutsche Bank AG reissued a “hold” rating and issued a $134.00 target price (up previously from $130.00) on shares of Clorox in a report on Sunday, July 24th. Citigroup Inc. increased their target price on shares of Clorox from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Finally, B. Riley reissued a “neutral” rating and issued a $109.00 target price on shares of Clorox in a report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Clorox presently has an average rating of “Hold” and an average target price of $128.90.
In other news, COO Nikolaos A. Vlahos sold 925 shares of Clorox stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $133.07, for a total transaction of $123,089.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jon M. Balousek sold 5,136 shares of Clorox stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $131.14, for a total value of $673,535.04. Following the sale, the senior vice president now owns 15,384 shares of the company’s stock, valued at approximately $2,017,457.76. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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