Clorox Co (NYSE:CLX) Position Reduced by Summit Global Investments

Summit Global Investments lessened its stake in Clorox Co (NYSE:CLX) by 27.1% in the first quarter, Holdings Channel reports. The firm owned 4,490 shares of the company’s stock after selling 1,667 shares during the period. Summit Global Investments’ holdings in Clorox were worth $721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Athena Capital Advisors LLC acquired a new position in Clorox in the fourth quarter valued at about $25,000. Zions Bancorporation N.A. acquired a new position in Clorox in the first quarter valued at about $28,000. Northstar Capital Management LLC acquired a new position in Clorox in the first quarter valued at about $29,000. Capital Financial Planning LLC acquired a new position in Clorox in the fourth quarter valued at about $32,000. Finally, Paragon Capital Management LLC acquired a new position in Clorox in the first quarter valued at about $35,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

CLX stock opened at $156.88 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 2.93. The stock has a market cap of $19.98 billion, a PE ratio of 25.06, a PEG ratio of 4.56 and a beta of 0.38. Clorox Co has a fifty-two week low of $125.40 and a fifty-two week high of $167.70.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.03). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Clorox had a return on equity of 108.82% and a net margin of 12.68%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 earnings per share. As a group, equities research analysts anticipate that Clorox Co will post 6.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Wednesday, July 31st will be given a dividend of $1.06 per share. This is a boost from Clorox’s previous quarterly dividend of $0.96. This represents a $4.24 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Tuesday, July 30th. Clorox’s dividend payout ratio is currently 61.34%.

A number of research firms have issued reports on CLX. Zacks Investment Research raised Clorox from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Citigroup set a $156.00 target price on Clorox and gave the company a “hold” rating in a research note on Thursday, May 23rd. Deutsche Bank raised Clorox from a “sell” rating to a “hold” rating and set a $139.00 target price for the company in a research note on Thursday, May 2nd. Bank of America reissued a “neutral” rating and issued a $154.00 target price (down from $165.00) on shares of Clorox in a research note on Thursday, May 2nd. Finally, BMO Capital Markets set a $168.00 target price on Clorox and gave the company a “buy” rating in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Clorox presently has a consensus rating of “Hold” and an average price target of $149.29.

In other news, SVP Denise Garner sold 20,399 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $157.61, for a total transaction of $3,215,086.39. Following the completion of the transaction, the senior vice president now directly owns 4,896 shares of the company’s stock, valued at $771,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

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About Clorox

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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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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