South Dakota Investment Council Buys 16,747 Shares of The Clorox Company $CLX

Key Points

• South Dakota Investment Council increased its Clorox stake by 22.8% in the first quarter, purchasing 16,747 shares and bringing its holdings to 90,333 shares valued at approximately $9.36 million.
• Institutional investors own 78.53% of Clorox, while an insider purchase of 5,000 shares was recently disclosed. However, analyst sentiment remains cautious, with a consensus “Reduce” rating and a $101 price target.
• Clorox shares opened at $99.67, down 0.6%, after the company reported quarterly earnings of $1.64 per share, beating estimates of $1.55, while revenue totaled $1.67 billion.

South Dakota Investment Council lifted its stake in The Clorox Company (NYSE:CLX - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,333 shares of the company's stock after buying an additional 16,747 shares during the period. South Dakota Investment Council owned approximately 0.07% of Clorox worth $9,361,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Clorox by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,380 shares of the company's stock valued at $1,970,000 after purchasing an additional 514 shares during the period. Woodline Partners LP boosted its holdings in shares of Clorox by 253.7% during the first quarter. Woodline Partners LP now owns 10,407 shares of the company's stock worth $1,532,000 after purchasing an additional 7,465 shares during the period. Baird Financial Group Inc. grew its stake in shares of Clorox by 1.7% in the second quarter. Baird Financial Group Inc. now owns 25,032 shares of the company's stock worth $3,006,000 after purchasing an additional 424 shares during the last quarter. Jump Financial LLC increased its holdings in Clorox by 173.5% during the 2nd quarter. Jump Financial LLC now owns 12,491 shares of the company's stock valued at $1,500,000 after purchasing an additional 7,924 shares during the period. Finally, Bank of Nova Scotia increased its holdings in Clorox by 26.2% during the 2nd quarter. Bank of Nova Scotia now owns 16,141 shares of the company's stock valued at $1,938,000 after purchasing an additional 3,352 shares during the period. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Clorox news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average cost of $85.82 per share, with a total value of $429,100.00. Following the transaction, the director directly owned 18,000 shares in the company, valued at approximately $1,544,760. The trade was a 38.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Zacks Research cut Clorox from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. BNP Paribas Exane reduced their target price on Clorox from $97.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, July 20th. The Goldman Sachs Group restated a "sell" rating and set a $83.00 target price on shares of Clorox in a report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Clorox from $95.00 to $92.00 and set an "underweight" rating on the stock in a report on Thursday, July 16th. Finally, Jefferies Financial Group downgraded shares of Clorox from a "buy" rating to a "hold" rating and reduced their price objective for the company from $125.00 to $98.00 in a research report on Tuesday. Twelve investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $101.00.

Clorox Stock Down 0.6%

Shares of NYSE:CLX opened at $99.67 on Thursday. The Clorox Company has a 52-week low of $84.70 and a 52-week high of $128.90. The firm has a market capitalization of $12.05 billion, a P/E ratio of 16.18 and a beta of 0.54. The stock has a 50 day moving average price of $95.46 and a 200-day moving average price of $103.79. The company has a debt-to-equity ratio of 27.03, a quick ratio of 0.65 and a current ratio of 0.84.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.67 billion. Clorox had a return on equity of 443.64% and a net margin of 11.18%.The firm's revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. As a group, equities research analysts anticipate that The Clorox Company will post 5.52 EPS for the current fiscal 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.

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