Global X Management Co LLC grew its stake in shares of Clorox Co (NYSE:CLX) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,899 shares of the company’s stock after acquiring an additional 391 shares during the quarter. Global X Management Co LLC’s holdings in Clorox were worth $933,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Clorox by 1.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 23,638 shares of the company’s stock worth $3,197,000 after purchasing an additional 383 shares during the period. Advisor Partners LLC grew its holdings in shares of Clorox by 10.8% during the 2nd quarter. Advisor Partners LLC now owns 4,172 shares of the company’s stock worth $564,000 after purchasing an additional 408 shares during the period. First Midwest Bank Trust Division grew its holdings in shares of Clorox by 2.5% during the 2nd quarter. First Midwest Bank Trust Division now owns 17,026 shares of the company’s stock worth $2,303,000 after purchasing an additional 412 shares during the period. Texas Yale Capital Corp. grew its holdings in shares of Clorox by 3.5% during the 2nd quarter. Texas Yale Capital Corp. now owns 12,430 shares of the company’s stock worth $1,681,000 after purchasing an additional 415 shares during the period. Finally, Chemical Bank grew its holdings in shares of Clorox by 4.1% during the 2nd quarter. Chemical Bank now owns 10,910 shares of the company’s stock worth $1,475,000 after purchasing an additional 425 shares during the period. 78.07% of the stock is owned by institutional investors.
In other Clorox news, EVP Linda J. Rendle sold 382 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $148.32, for a total value of $56,658.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael R. Costello sold 9,265 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $140.02, for a total value of $1,297,285.30. Following the completion of the transaction, the senior vice president now directly owns 34,293 shares in the company, valued at $4,801,705.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,268 shares of company stock worth $4,196,686. 1.00% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on the company. UBS Group assumed coverage on Clorox in a report on Wednesday, July 18th. They issued a “sell” rating and a $110.00 price target for the company. BMO Capital Markets restated a “buy” rating and issued a $153.00 price target on shares of Clorox in a report on Friday, August 3rd. ValuEngine upgraded Clorox from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Argus upgraded Clorox from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a report on Tuesday. Finally, Bank of America upped their price target on Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $134.93.
NYSE CLX opened at $150.37 on Thursday. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 3.10 and a beta of 0.35. Clorox Co has a fifty-two week low of $113.57 and a fifty-two week high of $153.38. The company has a debt-to-equity ratio of 3.15, a current ratio of 1.09 and a quick ratio of 0.67.
Clorox (NYSE:CLX) last announced its earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.08. Clorox had a return on equity of 103.18% and a net margin of 13.44%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company posted $1.53 EPS. Clorox’s quarterly revenue was up 2.7% on a year-over-year basis. sell-side analysts forecast that Clorox Co will post 6.41 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Wednesday, October 31st will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, October 30th. Clorox’s payout ratio is 61.34%.
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.
Further Reading: Diversification
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