Procyon Advisors LLC Raises Stock Holdings in The Clorox Company (NYSE:CLX)

Procyon Advisors LLC grew its position in The Clorox Company (NYSE:CLX) by 48.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,347 shares of the company’s stock after acquiring an additional 769 shares during the quarter. Procyon Advisors LLC’s holdings in Clorox were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CLX. Redwood Park Advisors LLC purchased a new stake in Clorox in the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in Clorox in the fourth quarter valued at $31,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Clorox in the fourth quarter valued at about $31,000. Asset Planning Inc acquired a new stake in shares of Clorox during the fourth quarter worth about $32,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Clorox during the fourth quarter worth about $32,000. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Clorox Stock Performance

Shares of CLX opened at $127.71 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.94 and a debt-to-equity ratio of 20.52. The Clorox Company has a 52-week low of $126.99 and a 52-week high of $171.37. The company has a 50-day simple moving average of $136.60 and a 200-day simple moving average of $149.66. The company has a market capitalization of $15.74 billion, a PE ratio of 34.89, a P/E/G ratio of 2.62 and a beta of 0.54.

Clorox (NYSE:CLX) last issued its earnings results on Monday, May 5th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.12). Clorox had a return on equity of 316.87% and a net margin of 6.38%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities research analysts predict that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pierre R. Breber purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $136.57 per share, with a total value of $546,280.00. Following the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at $546,280. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CLX has been the subject of several analyst reports. Citigroup reduced their price objective on Clorox from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on Clorox from $151.00 to $144.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Evercore ISI set a $140.00 price target on Clorox and gave the stock an “underperform” rating in a research note on Tuesday, May 6th. Barclays lowered their price objective on shares of Clorox from $134.00 to $129.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on shares of Clorox from $165.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $151.23.

Clorox Company 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.