State of Michigan Retirement System grew its stake in shares of Clorox Co (NYSE:CLX) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,903 shares of the company’s stock after purchasing an additional 3,133 shares during the quarter. State of Michigan Retirement System’s holdings in Clorox were worth $6,999,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of CLX. Simon Quick Advisors LLC lifted its holdings in shares of Clorox by 1,522.2% in the 1st quarter. Simon Quick Advisors LLC now owns 146 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Coastal Capital Group Inc. acquired a new position in Clorox during the first quarter worth approximately $25,000. Asset Dedication LLC purchased a new stake in Clorox in the first quarter valued at approximately $25,000. Evolution Wealth Advisors LLC boosted its holdings in shares of Clorox by 581.8% in the first quarter. Evolution Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $26,000 after acquiring an additional 128 shares during the period. Finally, Costello Asset Management INC purchased a new position in shares of Clorox during the second quarter worth approximately $27,000. Institutional investors and hedge funds own 78.55% of the company’s stock.
A number of analysts recently weighed in on the stock. Cfra increased their price target on shares of Clorox from $170.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Credit Suisse Group increased their target price on shares of Clorox from $180.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Deutsche Bank raised their price target on Clorox from $174.00 to $223.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Morgan Stanley increased their price objective on Clorox from $177.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Finally, UBS Group lifted their target price on Clorox from $155.00 to $168.00 and gave the company a “sell” rating in a research note on Monday, May 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $185.08.
In related news, CFO Kevin B. Jacobsen sold 15,066 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $206.59, for a total value of $3,112,484.94. Following the sale, the chief financial officer now directly owns 21,452 shares of the company’s stock, valued at approximately $4,431,768.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Denise Garner sold 25,832 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 17,468 shares of the company’s stock, valued at $3,452,026.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,011 shares of company stock valued at $14,788,606. 1.14% of the stock is currently owned by corporate insiders.
NYSE:CLX opened at $236.51 on Friday. Clorox Co has a 1 year low of $144.12 and a 1 year high of $238.00. The company has a debt-to-equity ratio of 3.69, a quick ratio of 0.72 and a current ratio of 0.98. The stock has a fifty day moving average price of $221.18 and a two-hundred day moving average price of $190.13. The stock has a market capitalization of $29.78 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 5.42 and a beta of 0.27.
Clorox (NYSE:CLX) last posted its quarterly earnings results on Friday, May 1st. The company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. Clorox had a net margin of 13.67% and a return on equity of 147.52%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts predict that Clorox Co will post 6.92 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 29th will be given a dividend of $1.11 per share. This is a positive change from Clorox’s previous quarterly dividend of $1.06. This represents a $4.44 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, July 28th. Clorox’s dividend payout ratio is presently 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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