91,730 The Clorox Company $CLX Shares Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its Clorox stake by 90.6%, selling 91,730 shares in the third quarter and retaining 9,541 shares valued at about $769,000.
• Analyst sentiment was cautious: MarketBeat reported a consensus “Reduce” rating and an average price target of $93.79, with 11 Hold and 4 Sell ratings among the analysts cited.
• Clorox beat quarterly earnings and revenue estimates, reporting EPS of $1.55 and revenue of $1.91 billion, up 33.3% year over year. It also declared a $1.25 quarterly dividend, equivalent to a 4.7% yield at the article’s stated share price.

International Assets Investment Management LLC lowered its holdings in The Clorox Company (NYSE:CLX - Free Report) by 90.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,541 shares of the company's stock after selling 91,730 shares during the quarter. International Assets Investment Management LLC's holdings in Clorox were worth $769,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Clorox in the 3rd quarter valued at $26,000. Ancora Advisors LLC acquired a new stake in shares of Clorox in the 2nd quarter valued at approximately $28,000. Avalon Trust Co bought a new position in shares of Clorox during the second quarter worth $29,000. Markowski Investments acquired a new position in shares of Clorox in the 2nd quarter valued at approximately $30,000. Finally, Barrett & Company Inc. boosted its holdings in shares of Clorox by 86.0% in the third quarter. Barrett & Company Inc. now owns 372 shares of the company's stock valued at $30,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 78.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CLX shares. Morgan Stanley lifted their target price on Clorox from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 4th. Zacks Research downgraded Clorox from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 29th. Weiss Ratings reissued a "hold (c-)" rating on shares of Clorox in a research report on Tuesday, October 6th. Barclays reduced their price target on Clorox from $84.00 to $80.00 and set an "underweight" rating for the company in a research note on Friday, October 16th. Finally, The Goldman Sachs Group restated a "sell" rating and set a $74.00 target price on shares of Clorox in a research report on Tuesday, November 3rd. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $93.79.

Insider Activity

In related news, Director Pierre Breber bought 4,000 shares of Clorox stock in a transaction that occurred on Wednesday, November 4th. The shares were acquired at an average cost of $100.06 per share, for a total transaction of $400,240.00. Following the completion of the acquisition, the director directly owned 22,000 shares of the company's stock, valued at approximately $2,201,320. The trade was a 22.22% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.51% of the stock is owned by company insiders.

Clorox Stock Performance

Shares of Clorox stock opened at $105.29 on Tuesday. The firm has a market capitalization of $12.76 billion, a P/E ratio of 18.94, a P/E/G ratio of 3.22 and a beta of 0.59. The Clorox Company has a fifty-two week low of $79.12 and a fifty-two week high of $128.90. The company has a debt-to-equity ratio of 32.91, a current ratio of 0.65 and a quick ratio of 0.38. The company's 50 day moving average price is $87.77 and its two-hundred day moving average price is $99.64.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.48. Clorox had a return on equity of 608.30% and a net margin of 9.41%. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business's revenue for the quarter was up 33.3% compared to the same quarter last year. On average, equities analysts forecast that The Clorox Company will post 5.75 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, October 28th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, October 28th. Clorox's dividend payout ratio (DPR) is currently 89.93%.

Clorox Profile

The Clorox Company is a consumer products company founded in 1913 and headquartered in Oakland, California. It makes and markets products for household cleaning, food, water filtration, personal care and pet care.

Its portfolio includes Clorox disinfecting and cleaning products, Glad trash bags and food-storage products, Kingsford charcoal, Brita water filters, Hidden Valley dressings and sauces, Burt's Bees personal-care products, and Fresh Step cat litter. The company also sells products under brands such as Pine-Sol and Liquid-Plumr.

Clorox serves consumers primarily in the United States and also sells products in international markets.

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