2,075 Shares in Clorox Co (CLX) Acquired by Baldwin Investment Management LLC
Baldwin Investment Management LLC purchased a new position in shares of Clorox Co (NYSE:CLX) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 2,075 shares of the company’s stock, valued at approximately $281,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CLX. Mackay Shields LLC acquired a new position in Clorox during the 1st quarter worth about $2,888,000. Victory Capital Management Inc. lifted its position in Clorox by 311.7% during the 1st quarter. Victory Capital Management Inc. now owns 104,873 shares of the company’s stock worth $13,960,000 after buying an additional 79,398 shares in the last quarter. Quantitative Systematic Strategies LLC lifted its position in Clorox by 67.9% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 3,208 shares of the company’s stock worth $427,000 after buying an additional 1,297 shares in the last quarter. State of Wisconsin Investment Board lifted its position in Clorox by 92.7% during the 1st quarter. State of Wisconsin Investment Board now owns 60,983 shares of the company’s stock worth $8,117,000 after buying an additional 29,339 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Clorox during the 1st quarter worth about $106,000. Institutional investors and hedge funds own 78.14% of the company’s stock.
Shares of NYSE:CLX opened at $150.84 on Thursday. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 3.12 and a beta of 0.35. Clorox Co has a 1-year low of $113.57 and a 1-year high of $152.39. 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 announced that its Board of Directors has approved a share repurchase plan on Thursday, May 24th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 12.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
CLX has been the topic of several research reports. ValuEngine upgraded shares of Clorox from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Bank of America upped their price target on shares of Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Goldman Sachs Group downgraded shares of Clorox from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $127.00 to $112.00 in a research report on Tuesday, July 17th. They noted that the move was a valuation call. UBS Group started coverage on shares of Clorox in a research report on Wednesday, July 18th. They set a “sell” rating and a $110.00 price target on the stock. Finally, BMO Capital Markets reissued a “buy” rating and set a $153.00 price objective on shares of Clorox in a report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Clorox currently has a consensus rating of “Hold” and a consensus target price of $130.42.
In other news, COO Dawn C. Willoughby sold 3,387 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $148.01, for a total value of $501,309.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Linda J. Rendle sold 382 shares of the company’s stock in a transaction dated 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. Insiders have sold a total of 29,268 shares of company stock valued at $4,196,686 over the last three months. Company insiders own 1.00% of the company’s stock.
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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