Parametric Portfolio Associates LLC Sells 30,131 Shares of Clorox Co (NYSE:CLX)
Parametric Portfolio Associates LLC reduced its stake in shares of Clorox Co (NYSE:CLX) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 609,453 shares of the company’s stock after selling 30,131 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.48% of Clorox worth $93,313,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Tower View Investment Management & Research LLC raised its holdings in shares of Clorox by 19.4% in the 2nd quarter. Tower View Investment Management & Research LLC now owns 387 shares of the company’s stock valued at $59,000 after purchasing an additional 63 shares in the last quarter. World Asset Management Inc increased its holdings in Clorox by 0.7% during the second quarter. World Asset Management Inc now owns 9,872 shares of the company’s stock valued at $1,512,000 after buying an additional 65 shares during the period. Berman Capital Advisors LLC raised its stake in Clorox by 25.6% in the first quarter. Berman Capital Advisors LLC now owns 353 shares of the company’s stock worth $56,000 after buying an additional 72 shares in the last quarter. Merit Financial Group LLC raised its stake in Clorox by 5.4% in the first quarter. Merit Financial Group LLC now owns 1,473 shares of the company’s stock worth $236,000 after buying an additional 75 shares in the last quarter. Finally, Arrow Financial Corp raised its stake in Clorox by 9.2% in the second quarter. Arrow Financial Corp now owns 892 shares of the company’s stock worth $137,000 after buying an additional 75 shares in the last quarter. 78.20% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on CLX. Morgan Stanley boosted their price objective on shares of Clorox from $141.00 to $144.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Zacks Investment Research raised shares of Clorox from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research note on Monday, July 29th. Argus downgraded shares of Clorox from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Wells Fargo & Co reissued a “hold” rating and issued a $153.00 price objective on shares of Clorox in a research note on Thursday, August 1st. Finally, ValuEngine downgraded shares of Clorox from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $154.07.
Clorox (NYSE:CLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.69 billion. Clorox had a return on equity of 118.88% and a net margin of 13.20%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. Equities analysts anticipate that Clorox Co will post 6.4 EPS for the current year.
In other news, SVP Diego J. Barral sold 1,987 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $157.59, for a total transaction of $313,131.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Michael R. Costello sold 3,225 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $161.34, for a total value of $520,321.50. Following the transaction, the senior vice president now directly owns 29,669 shares in the company, valued at $4,786,796.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,609 shares of company stock worth $2,497,443. Insiders own 1.40% 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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