TD Asset Management Inc Sells 36,268 Shares of The Clorox Company (NYSE:CLX)

Key Points

• TD Asset Management Inc reduced its stake in The Clorox Company by 16.7%, selling 36,268 shares to end with approximately 0.15% ownership valued at $26.7 million.
• Several large investors have significantly increased their positions in Clorox, with FMR LLC raising its stake by 75.4% and KBC Group NV by 688.7% in the latest quarter.
• Clorox's recent earnings report showed an EPS of $1.45, missing expectations by $0.12, and a revenue drop of 8.0% compared to the same quarter last year.

TD Asset Management Inc trimmed its stake in shares of The Clorox Company (NYSE:CLX - Free Report) by 16.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,155 shares of the company's stock after selling 36,268 shares during the quarter. TD Asset Management Inc owned 0.15% of Clorox worth $26,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC bought a new position in Clorox in the 1st quarter worth approximately $247,000. Brown Miller Wealth Management LLC bought a new stake in shares of Clorox during the 1st quarter valued at $399,000. Roman Butler Fullerton & Co. acquired a new position in shares of Clorox in the 1st quarter valued at $400,000. Wedge Capital Management L L P NC grew its holdings in shares of Clorox by 33.5% in the 1st quarter. Wedge Capital Management L L P NC now owns 28,510 shares of the company's stock valued at $4,198,000 after buying an additional 7,159 shares during the period. Finally, Cornerstone Wealth Group LLC boosted its stake in Clorox by 19.0% in the 1st quarter. Cornerstone Wealth Group LLC now owns 25,582 shares of the company's stock worth $3,767,000 after purchasing an additional 4,085 shares during the period. 78.53% of the stock is owned by institutional investors and hedge funds.

Clorox Price Performance

NYSE:CLX traded down $2.50 during mid-day trading on Friday, hitting $123.06. 3,928,421 shares of the stock traded hands, compared to its average volume of 1,666,065. The business's 50-day moving average price is $126.23 and its 200 day moving average price is $139.39. The company has a market cap of $15.17 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 3.53 and a beta of 0.49. The Clorox Company has a 12-month low of $117.35 and a 12-month high of $171.37. The company has a quick ratio of 0.44, a current ratio of 0.74 and a debt-to-equity ratio of 13.07.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.24 by $0.63. Clorox had a net margin of 11.40% and a return on equity of 538.72%. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the company earned $1.82 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts expect that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be issued a $1.24 dividend. This is a boost from Clorox's previous quarterly dividend of $1.22. The ex-dividend date is Wednesday, August 13th. This represents a $4.96 annualized dividend and a yield of 4.0%. Clorox's dividend payout ratio (DPR) is currently 87.61%.

Analysts Set New Price Targets

Several equities research analysts have commented on CLX shares. JPMorgan Chase & Co. cut their price target on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Barclays dropped their target price on shares of Clorox from $129.00 to $119.00 and set an "underweight" rating on the stock in a report on Tuesday, July 15th. Morgan Stanley dropped their target price on shares of Clorox from $150.00 to $137.00 and set an "equal weight" rating on the stock in a report on Friday. Wells Fargo & Company upped their target price on shares of Clorox from $135.00 to $138.00 and gave the company an "equal weight" rating in a report on Friday. Finally, UBS Group dropped their target price on shares of Clorox from $150.00 to $134.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Clorox has a consensus rating of "Hold" and an average price target of $144.00.

Insider Buying and Selling

In other Clorox news, Director Pierre R. Breber purchased 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average cost of $136.57 per share, for a total transaction of $546,280.00. Following the purchase, the director directly owned 4,000 shares in the company, valued at $546,280. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.57% of the company's stock.

Clorox Profile

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 home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.