Exchange Traded Concepts LLC, an investment management firm, recently announced a 37.1% increase in its holdings of The Clorox Company (NYSE:CLX) during the second quarter of this year. This information was disclosed in the company’s most recent Form 13F filing with the Securities & Exchange Commission. After purchasing an additional 1,614 shares, Exchange Traded Concepts LLC now owns a total of 5,961 shares in Clorox, valued at $948,000 as of their most recent SEC filing.
Clorox is a well-known consumer goods company that specializes in household and professional products. The company recently released its earnings report on August 2nd. According to this report, Clorox exceeded analysts’ expectations by posting earnings per share (EPS) of $1.67 for the quarter, surpassing the consensus estimate of $1.19 by $0.48.
Clorox also demonstrated solid financial performance with a net margin of 2.02% and an impressive return on equity (ROE) of 163.56%. The company generated $2.02 billion in revenue during the quarter compared to analyst estimates of $1.88 billion.
Furthermore, Clorox’s quarterly revenue exhibited significant growth as it rose by 12.1% compared to the same period last year. In the prior year’s corresponding quarter, the company had reported earnings per share of $0.93.
Analysts remain optimistic about Clorox’s future prospects and anticipate that it will achieve earnings per share of approximately 5.86 for the current fiscal year.
This increase in holdings by Exchange Traded Concepts LLC highlights investor confidence in Clorox’s potential for growth and profitability. As Clorox continues to perform strongly both financially and operationally, it solidifies its position as a leading player in the consumer goods industry.
Please note that all information mentioned above is accurate as of October 5, 2023. Investors and stakeholders are encouraged to stay updated through official reports and announcements from The Clorox Company and other reliable sources.
Mixed Ratings and Institutional Investments Shape Clorox Company’s Market Landscape
October 5, 2023 – Clorox Company Faces Mixed Ratings Amidst New Position Investments by Institutional Investors
The Clorox Company, a leading consumer goods company, has recently attracted the attention of various institutional investors. This not only reflects their confidence in the company’s potential for growth but also highlights the dynamic nature of the stock market.
Strategic Investment Solutions Inc. IL, an institutional investor, recently purchased a new position in Clorox during the first quarter of this year. The value of this investment was approximately $31,000. Likewise, Ten Capital Wealth Advisors LLC augmented its stake in Clorox by a significant 429.7% during the same period. As a result, they now own 196 shares of the company’s stock worth around $31,000 after an additional purchase of 159 shares.
Dark Forest Capital Management LP and OLD Mission Capital LLC also joined the list of investors acquiring new positions in Clorox during the fourth quarter alongside Janiczek Wealth Management LLC during the first quarter. These investments were valued at approximately $28,000, $29,000, and $35,000 respectively.
It is crucial to note that institutional investors now account for an overwhelming majority (77.98%) of Clorox’s stock ownership. This suggests that there is considerable trust and faith in both the short-term and long-term prospects of the company.
However, despite these investments by institutional players and positive performance indicators showcasing steady growth within Clorox, several analysts have issued mixed ratings on its stock.
StockNews.com downgraded shares of Clorox from a “buy” rating to a “hold” rating on September 19th. Barclays also provided a less favorable assessment by raising concerns about its weight and increasing their price objective to $127.00 with an “underweight” rating on August 4th.
HSBC assumed coverage on Clorox stocks with a “hold” rating and set a price objective of $146.00 on September 22nd. On the other hand, Atlantic Securities upgraded Clorox shares from an “underweight” rating to a “neutral” rating on August 3rd.
DA Davidson offered a more positive outlook by upgrading Clorox from a “neutral” rating to a “buy” rating and setting the price objective at $152.00.
Overall, it seems that the financial community remains divided in their recommendation for this particular stock. According to Bloomberg, Clorox currently holds an average rating of “Hold,” while the consensus target price stands at $147.64.
Apart from investment activities and ratings assessments, recent news regarding the company includes CFO Kevin B. Jacobsen’s sale of 3,346 shares of Clorox stock on August 14th. The average selling price was $160.82, resulting in a total transaction value of $538,103.72. After this transaction, Jacobsen now holds 23,224 shares of the company’s stock directly, valued at approximately $3,734,883.68.
In light of these recent developments in the financial landscape surrounding Clorox Company stocks, it is worth noting key details about its current market position and performance indicators.
As of today’s opening on October 5th, Clorox shares opened at $131.79 on Thursday. The company has maintained a fifty-day moving average price of $149.46 and a two-hundred-day moving average price of $156.07.
Clorox Company carries a debt-to-equity ratio of 6.38 along with a quick ratio of 0.59 and current ratio of 0.95— both measures reflecting its liquidity position within the market.
The firm has experienced both highs and lows over the past year with a52-week low standing at $124.58 and a52-week high of $178.21. Clorox Company currently has a market capitalization of $16.32 billion.
As for its financial valuation, the company possesses a PE ratio of 110.75 and a P/E/G ratio of 1.89. Notably, Clorox Company exhibits a beta score of 0.33, indicating a relatively low level of systematic risk associated with its performance within the stock market.
In summary, while institutional investors continue to show interest in the Clorox Company, various rating assessments from analysts have painted contrasting pictures about the stock’s future prospects. Although inconclusive, these different perspectives emphasize the dynamic nature of the stock market and the need for individual investors to conduct thorough research before making investment decisions.
Disclaimer: The content provided here is solely for informational purposes and does not constitute financial advice or an endorsement of any particular investment strategy. Investors are advised to seek professional guidance before making investment decisions.