Seven Eight Capital LP Takes Position in The Clorox Company (NYSE:CLX)

Seven Eight Capital LP bought a new position in shares of The Clorox Company (NYSE:CLX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,335 shares of the company’s stock, valued at approximately $358,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of Clorox by 308.5% in the 1st quarter. Venturi Wealth Management LLC now owns 192 shares of the company’s stock valued at $29,000 after purchasing an additional 145 shares during the last quarter. Northwest Financial Advisors purchased a new position in Clorox in the fourth quarter valued at $29,000. GoalVest Advisory LLC acquired a new stake in Clorox in the first quarter valued at $31,000. First Foundation Advisors purchased a new stake in Clorox during the 1st quarter worth about $31,000. Finally, Core Wealth Advisors Inc. acquired a new position in shares of Clorox during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Clorox Stock Performance

Clorox stock traded up $0.24 during trading hours on Wednesday, reaching $132.80. 767,553 shares of the stock were exchanged, compared to its average volume of 1,232,009. The Clorox Company has a 52-week low of $114.68 and a 52-week high of $169.14. The stock has a market cap of $16.49 billion, a P/E ratio of 68.81, a P/E/G ratio of 1.97 and a beta of 0.39. The company has a debt-to-equity ratio of 9.73, a quick ratio of 0.53 and a current ratio of 0.90. The firm’s 50 day moving average is $133.91 and its 200 day moving average is $142.84.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.38. Clorox had a net margin of 3.33% and a return on equity of 302.49%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted $1.51 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Analysts predict that The Clorox Company will post 5.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CLX shares. JPMorgan Chase & Co. decreased their target price on Clorox from $158.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Company lowered their target price on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Barclays dropped their target price on shares of Clorox from $132.00 to $122.00 and set an “underweight” rating on the stock in a research report on Friday, July 19th. DA Davidson reissued a “neutral” rating and issued a $162.00 price target on shares of Clorox in a research report on Wednesday, April 17th. Finally, Citigroup dropped their price objective on Clorox from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat, Clorox currently has a consensus rating of “Hold” and an average price target of $142.13.

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.