Precedent Wealth Partners LLC Increases Holdings in The Clorox Company (NYSE:CLX)

Precedent Wealth Partners LLC raised its stake in The Clorox Company (NYSE:CLX) by 13.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,736 shares of the company’s stock after buying an additional 942 shares during the period. Precedent Wealth Partners LLC’s holdings in Clorox were worth $1,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. OmniStar Financial Group Inc. acquired a new position in shares of Clorox during the 3rd quarter valued at about $824,000. Aspiriant LLC acquired a new position in Clorox in the 3rd quarter valued at about $202,000. Stonegate Investment Group LLC purchased a new stake in shares of Clorox in the 3rd quarter valued at approximately $219,000. Claro Advisors LLC increased its holdings in shares of Clorox by 469.3% during the 3rd quarter. Claro Advisors LLC now owns 36,644 shares of the company’s stock worth $5,970,000 after buying an additional 30,207 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Clorox by 12.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,857 shares of the company’s stock valued at $2,095,000 after buying an additional 1,427 shares during the period. 78.53% of the stock is owned by institutional investors and hedge funds.

Clorox Stock Performance

Shares of CLX opened at $161.96 on Friday. The Clorox Company has a 1 year low of $114.68 and a 1 year high of $169.09. The stock has a market capitalization of $20.11 billion, a PE ratio of 83.92, a PEG ratio of 3.19 and a beta of 0.41. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 1.03. The stock has a 50-day simple moving average of $159.28 and a 200-day simple moving average of $145.18.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.54 by $0.28. Clorox had a net margin of 3.95% and a return on equity of 281.12%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, analysts predict that The Clorox Company will post 6.64 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 23rd will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, October 23rd. Clorox’s dividend payout ratio is presently 252.85%.

Wall Street Analysts Forecast Growth

CLX has been the subject of several recent analyst reports. Barclays raised their target price on Clorox from $130.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Wells Fargo & Company cut their price objective on Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Clorox from $144.00 to $151.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Evercore ISI dropped their price target on shares of Clorox from $140.00 to $139.00 and set an “underperform” rating for the company in a research report on Monday, October 14th. Finally, Jefferies Financial Group upgraded shares of Clorox from a “hold” rating to a “buy” rating and upped their price objective for the stock from $174.00 to $187.00 in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Clorox presently has a consensus rating of “Hold” and an average price target of $150.14.

Insiders Place Their Bets

In other news, EVP Angela C. Hilt sold 1,733 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $165.52, for a total value of $286,846.16. Following the transaction, the executive vice president now owns 13,471 shares in the company, valued at approximately $2,229,719.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.51% of the stock is owned by company insiders.

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.