Pitcairn Co. bought a new stake in Clorox Co (NYSE:CLX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 973 shares of the company’s stock, valued at approximately $213,000.
Other large investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in shares of Clorox by 312.8% in the second quarter. CIBC Asset Management Inc now owns 44,595 shares of the company’s stock valued at $9,783,000 after buying an additional 33,792 shares during the period. Raymond James & Associates boosted its holdings in shares of Clorox by 1.9% in the second quarter. Raymond James & Associates now owns 235,941 shares of the company’s stock valued at $51,760,000 after buying an additional 4,340 shares during the period. Arthur M. Cohen & Associates LLC boosted its holdings in shares of Clorox by 1.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 16,859 shares of the company’s stock valued at $2,892,000 after buying an additional 300 shares during the period. SignalPoint Asset Management LLC acquired a new position in shares of Clorox in the second quarter valued at approximately $241,000. Finally, Wakefield Asset Management LLLP boosted its holdings in shares of Clorox by 10.6% in the second quarter. Wakefield Asset Management LLLP now owns 12,635 shares of the company’s stock valued at $2,772,000 after buying an additional 1,215 shares during the period. 78.55% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CLX. Royal Bank of Canada reiterated a “hold” rating and issued a $195.00 price target on shares of Clorox in a report on Tuesday, April 14th. Credit Suisse Group upped their price target on shares of Clorox from $180.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Deutsche Bank upped their price target on shares of Clorox from $174.00 to $223.00 and gave the company a “hold” rating in a report on Monday, July 27th. Barclays restated a “sell” rating and set a $164.00 target price on shares of Clorox in a report on Tuesday, May 5th. Finally, Morgan Stanley increased their target price on shares of Clorox from $177.00 to $193.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Clorox presently has a consensus rating of “Hold” and an average target price of $185.08.
In other Clorox news, SVP William S. Bailey sold 7,969 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.53, for a total value of $1,653,806.57. Following the completion of the sale, the senior vice president now owns 15,172 shares in the company, valued at $3,148,645.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Denise Garner sold 25,832 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $197.62, for a total transaction of $5,104,919.84. Following the completion of the sale, the senior vice president now owns 17,468 shares of the company’s stock, valued at approximately $3,452,026.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,011 shares of company stock valued at $14,788,606. Corporate insiders own 1.14% of the company’s stock.
Shares of CLX stock opened at $236.51 on Friday. The stock has a market cap of $29.78 billion, a P/E ratio of 34.68, a P/E/G ratio of 5.42 and a beta of 0.27. The company has a debt-to-equity ratio of 3.69, a current ratio of 0.98 and a quick ratio of 0.72. The company has a fifty day moving average price of $221.18 and a two-hundred day moving average price of $190.13. Clorox Co has a one year low of $144.12 and a one year high of $238.00.
Clorox (NYSE:CLX) last announced its quarterly earnings results on Friday, May 1st. The company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Clorox had a net margin of 13.67% and a return on equity of 147.52%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 earnings per share. As a group, equities research analysts anticipate that Clorox Co will post 6.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 29th will be paid a $1.11 dividend. The ex-dividend date is Tuesday, July 28th. This represents a $4.44 dividend on an annualized basis and a yield of 1.88%. This is a boost from Clorox’s previous quarterly dividend of $1.06. Clorox’s dividend payout ratio (DPR) is currently 70.25%.
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.
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