Cordasco Financial Network Invests $215,000 in The Clorox Company (NYSE:CLX)

Cordasco Financial Network bought a new position in shares of The Clorox Company (NYSE:CLXGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,524 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Clorox by 1.3% in the first quarter. Vanguard Group Inc. now owns 14,685,046 shares of the company’s stock valued at $2,041,661,000 after acquiring an additional 185,012 shares during the last quarter. BlackRock Inc. lifted its holdings in Clorox by 3.2% in the first quarter. BlackRock Inc. now owns 11,117,522 shares of the company’s stock valued at $1,545,669,000 after acquiring an additional 342,680 shares during the last quarter. State Street Corp lifted its holdings in Clorox by 4.1% in the fourth quarter. State Street Corp now owns 8,223,034 shares of the company’s stock valued at $1,433,768,000 after acquiring an additional 327,488 shares during the last quarter. Northern Trust Corp lifted its holdings in Clorox by 1.1% in the first quarter. Northern Trust Corp now owns 1,931,351 shares of the company’s stock valued at $268,515,000 after acquiring an additional 21,058 shares during the last quarter. Finally, Champlain Investment Partners LLC lifted its holdings in Clorox by 0.9% in the first quarter. Champlain Investment Partners LLC now owns 1,443,225 shares of the company’s stock valued at $200,652,000 after acquiring an additional 12,554 shares during the last quarter. 81.69% of the stock is currently owned by institutional investors and hedge funds.

Clorox Stock Down 0.5 %

NYSE:CLX traded down $0.69 during trading hours on Thursday, hitting $141.28. The company’s stock had a trading volume of 634,320 shares, compared to its average volume of 1,364,169. The stock has a market capitalization of $17.40 billion, a P/E ratio of 38.04, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. The stock has a fifty day moving average of $145.32 and a 200-day moving average of $142.70. The company has a current ratio of 0.97, a quick ratio of 0.54 and a debt-to-equity ratio of 3.39. The Clorox Company has a 52-week low of $120.50 and a 52-week high of $186.86.

Clorox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Wednesday, October 26th will be paid a $1.18 dividend. The ex-dividend date is Tuesday, October 25th. This represents a $4.72 annualized dividend and a yield of 3.34%. Clorox’s dividend payout ratio is presently 126.88%.

Analyst Upgrades and Downgrades

CLX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Clorox from $145.00 to $132.00 and set a “hold” rating on the stock in a research report on Tuesday, June 21st. DA Davidson boosted their target price on Clorox from $123.00 to $124.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Credit Suisse Group cut their target price on Clorox from $140.00 to $130.00 and set an “underperform” rating on the stock in a research report on Thursday, August 4th. Barclays upped their price objective on Clorox from $93.00 to $101.00 and gave the stock an “underweight” rating in a research report on Friday, August 19th. Finally, Wells Fargo & Company upped their price objective on Clorox from $120.00 to $130.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 13th. Ten analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $130.67.

Clorox Profile

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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.

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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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