Webster Bank N. A. trimmed its position in Clorox Co (NYSE:CLX) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,327 shares of the company’s stock after selling 956 shares during the quarter. Webster Bank N. A.’s holdings in Clorox were worth $2,606,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Exeter Financial LLC lifted its position in shares of Clorox by 3.9% during the 2nd quarter. Exeter Financial LLC now owns 9,719 shares of the company’s stock worth $1,314,000 after buying an additional 367 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Clorox by 1.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 23,638 shares of the company’s stock valued at $3,197,000 after purchasing an additional 383 shares during the last quarter. Global X Management Co LLC raised its position in Clorox by 6.0% in the second quarter. Global X Management Co LLC now owns 6,899 shares of the company’s stock valued at $933,000 after purchasing an additional 391 shares during the last quarter. Spearhead Capital Advisors LLC raised its position in Clorox by 1.6% in the third quarter. Spearhead Capital Advisors LLC now owns 25,798 shares of the company’s stock valued at $3,867,000 after purchasing an additional 403 shares during the last quarter. Finally, Advisor Partners LLC raised its position in Clorox by 10.8% in the second quarter. Advisor Partners LLC now owns 4,172 shares of the company’s stock valued at $564,000 after purchasing an additional 408 shares during the last quarter. 78.36% of the stock is currently owned by hedge funds and other institutional investors.
CLX has been the subject of several research reports. Atlantic Securities initiated coverage on Clorox in a research report on Thursday, September 20th. They issued a “neutral” rating and a $151.00 target price for the company. Goldman Sachs Group downgraded Clorox from a “neutral” rating to a “sell” rating and dropped their target price for the company from $127.00 to $112.00 in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Bank of America increased their target price on Clorox from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Argus upgraded Clorox from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research report on Tuesday, September 25th. Finally, Zacks Investment Research downgraded Clorox from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Clorox has a consensus rating of “Hold” and a consensus price target of $137.21.
Shares of CLX stock traded up $2.66 on Friday, hitting $144.84. The company had a trading volume of 1,065,100 shares, compared to its average volume of 1,202,012. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 3.11 and a beta of 0.36. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 3.15. Clorox Co has a twelve month low of $113.57 and a twelve month high of $153.38.
Clorox (NYSE:CLX) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Clorox had a return on equity of 103.18% and a net margin of 13.44%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 earnings per share. Sell-side analysts forecast that Clorox Co will post 6.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 31st will be paid a $0.96 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $3.84 annualized dividend and a dividend yield of 2.65%. Clorox’s payout ratio is 61.34%.
In other news, COO Dawn C. Willoughby sold 3,387 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $148.01, for a total value of $501,309.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Linda J. Rendle sold 382 shares of the stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $148.32, for a total value of $56,658.24. The disclosure for this sale can be found here. In the last three months, insiders sold 29,268 shares of company stock valued at $4,196,686. Insiders own 1.00% of the company’s stock.
Clorox Company Profile
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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