Independent Wealth Network Inc. Increases Holdings in The Clorox Company (NYSE:CLX)

Independent Wealth Network Inc. lifted its position in shares of The Clorox Company (NYSE:CLX) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,264 shares of the company’s stock after purchasing an additional 287 shares during the quarter. Independent Wealth Network Inc.’s holdings in Clorox were worth $692,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new position in shares of Clorox during the third quarter valued at approximately $54,000. AQR Capital Management LLC increased its stake in shares of Clorox by 8.6% during the second quarter. AQR Capital Management LLC now owns 287,277 shares of the company’s stock valued at $39,121,000 after buying an additional 22,676 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Clorox by 5.6% during the third quarter. Los Angeles Capital Management LLC now owns 191,919 shares of the company’s stock valued at $31,266,000 after buying an additional 10,149 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Clorox by 60.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,769 shares of the company’s stock valued at $3,244,000 after buying an additional 8,957 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Clorox by 43.4% during the third quarter. Advisors Asset Management Inc. now owns 29,865 shares of the company’s stock valued at $4,865,000 after buying an additional 9,037 shares during the period. 78.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CLX. TD Cowen upgraded Clorox from a “sell” rating to a “hold” rating and lifted their price target for the company from $155.00 to $170.00 in a research report on Wednesday, November 6th. StockNews.com lowered Clorox from a “buy” rating to a “hold” rating in a research report on Sunday, January 5th. Evercore ISI dropped their price target on Clorox from $140.00 to $139.00 and set an “underperform” rating on the stock in a research report on Monday, October 14th. Barclays dropped their price target on Clorox from $139.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company upgraded Clorox from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $155.00 to $157.00 in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Clorox currently has a consensus rating of “Hold” and an average price target of $156.54.

Clorox Stock Down 0.7 %

CLX stock opened at $158.91 on Thursday. The Clorox Company has a 1-year low of $127.60 and a 1-year high of $171.37. The business has a fifty day moving average price of $164.06 and a 200-day moving average price of $157.10. The company has a debt-to-equity ratio of 11.08, a current ratio of 1.00 and a quick ratio of 0.62. The stock has a market capitalization of $19.67 billion, a P/E ratio of 55.37, a P/E/G ratio of 2.95 and a beta of 0.42.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.50. Clorox had a return on equity of 316.08% and a net margin of 4.78%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Equities analysts forecast that The Clorox Company will post 6.87 earnings per share for the current fiscal year.

Clorox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 29th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, January 29th. Clorox’s dividend payout ratio (DPR) is presently 170.04%.

About Clorox

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.