Envestnet Asset Management Inc. Sells 20,210 Shares of The Clorox Company (NYSE:CLX)

Envestnet Asset Management Inc. lessened its holdings in shares of The Clorox Company (NYSE:CLX) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,997 shares of the company’s stock after selling 20,210 shares during the quarter. Envestnet Asset Management Inc. owned about 0.23% of Clorox worth $38,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CLX. ING Groep NV lifted its position in Clorox by 170.8% during the fourth quarter. ING Groep NV now owns 1,476 shares of the company’s stock valued at $210,000 after purchasing an additional 931 shares during the last quarter. Norges Bank purchased a new position in Clorox in the fourth quarter worth $128,382,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in Clorox by 17.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,645 shares of the company’s stock valued at $662,000 after acquiring an additional 694 shares during the last quarter. D.A. Davidson & CO. raised its position in Clorox by 6.3% during the fourth quarter. D.A. Davidson & CO. now owns 16,228 shares of the company’s stock valued at $2,314,000 after purchasing an additional 968 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Clorox by 7.1% during the fourth quarter. Corient Private Wealth LLC now owns 33,570 shares of the company’s stock worth $4,787,000 after purchasing an additional 2,230 shares during the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CLX shares. Citigroup raised their price objective on Clorox from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Clorox from $144.00 to $151.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Barclays upped their price objective on shares of Clorox from $122.00 to $130.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. TD Cowen started coverage on shares of Clorox in a research report on Tuesday, July 23rd. They issued a “sell” rating and a $122.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Clorox presently has an average rating of “Hold” and a consensus target price of $143.50.

Insiders Place Their Bets

In other news, EVP Angela C. Hilt sold 1,733 shares of Clorox stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $165.52, for a total value of $286,846.16. Following the completion of the sale, the executive vice president now directly owns 13,471 shares in the company, valued at $2,229,719.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is owned by insiders.

Clorox Price Performance

Shares of CLX opened at $162.00 on Friday. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 1.03. The firm’s 50-day simple moving average is $148.60 and its two-hundred day simple moving average is $143.69. The Clorox Company has a fifty-two week low of $114.68 and a fifty-two week high of $169.09. The stock has a market cap of $20.12 billion, a PE ratio of 83.94, a price-to-earnings-growth ratio of 3.29 and a beta of 0.40.

Clorox (NYSE:CLX) last issued its earnings results on Thursday, August 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.28. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.97 billion. Clorox had a net margin of 3.95% and a return on equity of 281.12%. Analysts anticipate that The Clorox Company will post 6.63 earnings per share for the current fiscal year.

Clorox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 23rd will be issued a $1.22 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.88 annualized dividend and a yield of 3.01%. Clorox’s payout ratio is 252.85%.

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.