The Clorox Company (NYSE:CLX) Stake Increased by Merit Financial Group LLC

Merit Financial Group LLC increased its stake in The Clorox Company (NYSE:CLX) by 32.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,069 shares of the company’s stock after buying an additional 759 shares during the period. Merit Financial Group LLC’s holdings in Clorox were worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Clorox by 3.2% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 2,257 shares of the company’s stock worth $322,000 after buying an additional 71 shares during the last quarter. Modera Wealth Management LLC increased its stake in Clorox by 1.4% during the third quarter. Modera Wealth Management LLC now owns 5,130 shares of the company’s stock valued at $672,000 after purchasing an additional 71 shares during the last quarter. Czech National Bank increased its stake in Clorox by 0.3% during the fourth quarter. Czech National Bank now owns 21,718 shares of the company’s stock valued at $3,097,000 after purchasing an additional 71 shares during the last quarter. Global Retirement Partners LLC increased its stake in Clorox by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,089 shares of the company’s stock valued at $156,000 after purchasing an additional 73 shares during the last quarter. Finally, West Branch Capital LLC increased its stake in Clorox by 9.3% during the fourth quarter. West Branch Capital LLC now owns 903 shares of the company’s stock valued at $129,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 78.53% of the company’s stock.

Clorox Stock Performance

CLX stock opened at $141.18 on Wednesday. The Clorox Company has a fifty-two week low of $114.68 and a fifty-two week high of $170.43. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 9.73. The company has a market capitalization of $17.53 billion, a P/E ratio of 73.15, a PEG ratio of 2.13 and a beta of 0.44. The company has a 50-day simple moving average of $148.00 and a 200 day simple moving average of $143.67.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.38. Clorox had a net margin of 3.33% and a return on equity of 302.49%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company earned $1.51 EPS. Clorox’s revenue was down 5.3% on a year-over-year basis. Sell-side analysts predict that The Clorox Company will post 5.83 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, April 24th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Tuesday, April 23rd. Clorox’s payout ratio is 248.71%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CLX shares. The Goldman Sachs Group started coverage on shares of Clorox in a research note on Friday, March 1st. They set a “sell” rating and a $140.00 target price for the company. UBS Group lowered their target price on shares of Clorox from $164.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Evercore ISI lowered their target price on shares of Clorox from $145.00 to $142.00 and set an “underperform” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Clorox from $159.00 to $158.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays reduced their price target on shares of Clorox from $136.00 to $132.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $146.43.

Clorox Profile

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.