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Envestnet Asset Management Inc. increases its equity position in The Clorox Company (NYSE:CLX)


Envestnet Asset Management Inc. increased its stake in shares of The Clorox Company (NYSE:CLX – Get Rating) by 147.3% in Q1, according to the company in its latest filing with the Securities & Exchange Commission. The fund held 151,941 shares of the company after acquiring an additional 90,502 shares during the period. Envestnet Asset Management Inc.’s holdings in Clorox were worth $21,124,000 when it last filed with the SEC.

Several other institutional investors and hedge funds have also recently increased or reduced their stakes in CLX. State Street Corp increased its stake in Clorox by 4.1% in the fourth quarter. State Street Corp now owns 8,223,034 shares of the company valued at $1,433,768,000 after acquiring 327,488 additional shares in the last quarter. Candlestick Capital Management LP acquired a new stake in Clorox during the 4th quarter valued at approximately $44,971,000. Nuance Investments LLC increased its stake in Clorox shares by 250.8% during the 4th quarter. Nuance Investments LLC now owns 351,858 shares of the company worth $61,350,000 after purchasing an additional 251,543 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Clorox shares by 41.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 606,596 shares of the company worth $105,766,000 after buying an additional 178,636 shares last quarter. Finally, ProShare Advisors LLC increased its stake in Clorox shares by 19.2% during the 4th quarter. ProShare Advisors LLC now owns 940,893 shares of the company worth $164,054,000 after purchasing an additional 151,600 shares in the last quarter. 77.28% of the shares are held by hedge funds and other institutional investors.

Changes to analyst ratings

A number of equity analysts have recently released reports on CLX shares. UBS Group reduced its target price on Clorox to $129.00 in a Friday, July 22 research note. Barclays cut its price target on Clorox from $126.00 to $115.00 and set an “underweight” rating for the company in a Monday May 23 research note. JPMorgan Chase & Co. raised its target price on Clorox from $127.00 to $132.00 in a Thursday, July 21 research note. Deutsche Bank Aktiengesellschaft raised its price target on Clorox from $132.00 to $135.00 and gave the stock a “holding” rating in a Monday, July 25 research note. Finally, Wells Fargo & Company lowered its price target on Clorox from $130.00 to $120.00 and set an “underweight” rating for the company in a Tuesday, June 21 research note. Nine equity research analysts gave the stock a sell rating, four gave the company a hold rating and two gave the company a buy rating. According to MarketBeat, Clorox currently has a consensus rating of “Hold” and a consensus price target of $141.36.

Insider Activity at Clorox

In other news, Director A D. David Mackay sold 1,000 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $140.63, for a total transaction of $140,630.00. Following completion of the transaction, the director now owns 600 shares of the company, valued at approximately $84,378. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director A D. David Mackay sold 1,000 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $140.63, for a total transaction of $140,630.00. Following completion of the transaction, the director now owns 600 shares of the company, valued at approximately $84,378. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Additionally, COO Eric H. Reynolds sold 585 shares of the company in a trade dated Monday, May 9. The shares were sold at an average price of $154.83, for a total transaction of $90,575.55. As a result of the transaction, the chief operating officer now directly owns 17,289 shares of the company, valued at approximately $2,676,855.87. The disclosure of this sale can be found here. 0.58% of the shares are currently held by company insiders.

Clorox is trading down 1.0%

CLX shares opened at $143.79 on Wednesday. The company has a 50-day moving average price of $140.11 and a 200-day moving average price of $145.42. The Clorox Company has a 12-month low of $120.50 and a 12-month high of $186.86. The company has a market capitalization of $17.70 billion, a price/earnings ratio of 38.97, a PEG ratio of 3.73 and a beta of 0.19. The company has a current ratio of 0.71, a quick ratio of 0.40 and a debt ratio of 3.28.

Clorox (NYSE:CLX – Get Rating) last announced its results on Monday, May 2. The company reported earnings per share of $1.31 for the quarter, beating the consensus estimate of $0.97 by $0.34. Clorox had a net margin of 6.44% and a return on equity of 92.98%. The company posted revenue of $1.81 billion in the quarter, versus a consensus estimate of $1.81 billion. In the same quarter a year earlier, the company posted EPS of $1.62. Research analysts expect The Clorox Company to post earnings per share of 4.13 for the current fiscal year.

Clorox increases its dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 12. Investors of record on Wednesday, July 27 will receive a dividend of $1.18. This is an increase from Clorox’s previous quarterly dividend of $1.16. The ex-dividend date is Tuesday, July 26. This represents an annualized dividend of $4.72 and a yield of 3.28%. Clorox’s payout ratio is currently 127.91%.

About Clorox

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The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle and International. The Health and Wellness segment offers cleaning products, such as laundry additives and household cleaning products, primarily under the brands Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex and Formula 409; professional cleaning and disinfecting products under the CloroxPro, Clorox Healthcare and Clorox Total 360 brands; professional catering products under the Hidden Valley brand; and vitamins, minerals and supplements under the RenewLife, Natural Vitality, NeoCell and Rainbow Light brands in the United States.

Further reading

Want to see which other hedge funds hold CLX? Visit HoldingsChannel.com for the latest 13F filings and insider trading for The Clorox Company (NYSE:CLX – Get Rating).

Institutional ownership by quarter for Clorox (NYSE:CLX)



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