The Clorox Company $CLX Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Clorox stake by 44.5% in the first quarter, purchasing 32,539 additional shares for a total holding worth approximately $11.0 million. Institutional investors collectively own 78.53% of Clorox.
• Clorox reported quarterly EPS of $1.64, exceeding analysts’ $1.55 estimate, while revenue of $1.67 billion was in line with expectations and rose slightly year over year.
• Analyst sentiment remains cautious: Clorox has a consensus “Reduce” rating, with 12 Hold ratings and five Sell ratings and an average price target of $101.00.

Cetera Investment Advisers grew its position in The Clorox Company (NYSE:CLX - Free Report) by 44.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,704 shares of the company's stock after purchasing an additional 32,539 shares during the quarter. Cetera Investment Advisers owned about 0.09% of Clorox worth $10,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Clorox by 3.0% in the first quarter. PNC Financial Services Group Inc. now owns 83,889 shares of the company's stock valued at $8,693,000 after buying an additional 2,439 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in shares of Clorox during the first quarter worth about $158,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Clorox during the first quarter worth about $86,000. Convergence Investment Partners LLC increased its holdings in shares of Clorox by 25.7% during the first quarter. Convergence Investment Partners LLC now owns 14,999 shares of the company's stock valued at $1,554,000 after acquiring an additional 3,068 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Clorox by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 3,228 shares of the company's stock valued at $335,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company's stock.

Insider Activity

In other news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $85.82 per share, with a total value of $429,100.00. Following the completion of the acquisition, the director owned 18,000 shares of the company's stock, valued at approximately $1,544,760. This represents a 38.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Clorox Stock Down 3.0%

Clorox stock opened at $96.69 on Friday. The business's 50-day moving average price is $95.49 and its 200 day moving average price is $103.72. The company has a quick ratio of 0.65, a current ratio of 0.84 and a debt-to-equity ratio of 27.03. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 15.70 and a beta of 0.54. The Clorox Company has a 52 week low of $84.70 and a 52 week high of $128.90.

Clorox (NYSE:CLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.09. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. Clorox had a return on equity of 443.64% and a net margin of 11.18%.Clorox's revenue for the quarter 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, sell-side analysts anticipate that The Clorox Company will post 5.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CLX shares. Royal Bank Of Canada decreased their price target on shares of Clorox from $132.00 to $127.00 and set a "sector perform" rating for the company in a report on Thursday, April 9th. The Goldman Sachs Group reissued a "sell" rating and set a $83.00 price objective on shares of Clorox in a report on Friday, May 1st. Morgan Stanley cut their target price 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 raised 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. Finally, Zacks Research cut Clorox from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 12th. Twelve investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $101.00.

Clorox Company 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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