Bank of Nova Scotia Cuts Stock Position in The Clorox Company $CLX

Bank of Nova Scotia lessened its holdings in shares of The Clorox Company (NYSE:CLX) by 88.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in shares of Clorox in the second quarter valued at approximately $29,000. Caitlin John LLC lifted its holdings in Clorox by 1,807.1% during the 4th quarter. Caitlin John LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 253 shares in the last quarter. Root Financial Partners LLC boosted its position in Clorox by 83.8% in the 1st quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock valued at $33,000 after buying an additional 145 shares during the period. Vision Financial Markets LLC boosted its position in Clorox by 166.7% in the 4th quarter. Vision Financial Markets LLC now owns 320 shares of the company’s stock valued at $32,000 after buying an additional 200 shares during the period. Finally, SHP Wealth Management acquired a new position in shares of Clorox in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CLX shares. Morgan Stanley cut their price objective on Clorox from $110.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. UBS Group boosted their target price on Clorox from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Citigroup cut their price target on Clorox from $110.00 to $97.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada reduced their price target on Clorox from $132.00 to $127.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 9th. Finally, Zacks Research downgraded Clorox from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Twelve equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $101.00.

Insider Activity

In related news, Director Pierre R. Breber bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $85.82 per share, with a total value of $429,100.00. Following the completion of the transaction, the director owned 18,000 shares of the company’s stock, valued at approximately $1,544,760. The trade was a 38.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.

Clorox Stock Performance

NYSE CLX opened at $99.67 on Thursday. The business’s 50-day moving average price is $95.46 and its 200 day moving average price is $103.79. 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 Clorox Company has a twelve month low of $84.70 and a twelve month high of $128.90. The company has a market capitalization of $12.05 billion, a PE ratio of 16.18 and a beta of 0.54.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.55 by $0.09. Clorox had a return on equity of 443.64% and a net margin of 11.18%.The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business earned $1.45 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, research analysts predict that The Clorox Company will post 5.52 earnings per share for the current year.

Clorox 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.