Berkshire Asset Management LLC PA increased its stake in shares of Clorox Co (NYSE:CLX) by 17.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,119 shares of the company’s stock after buying an additional 467 shares during the period. Berkshire Asset Management LLC PA’s holdings in Clorox were worth $469,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ostrum Asset Management acquired a new position in Clorox during the 1st quarter worth about $112,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Clorox during the 3rd quarter worth about $130,000. Fort L.P. acquired a new position in Clorox during the 2nd quarter valued at about $129,000. IMS Capital Management acquired a new position in Clorox during the 2nd quarter valued at about $161,000. Finally, Lourd Capital LLC acquired a new position in Clorox during the 3rd quarter valued at about $214,000. Institutional investors and hedge funds own 78.36% of the company’s stock.
A number of research analysts have issued reports on CLX shares. Zacks Investment Research upgraded shares of Clorox from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research report on Wednesday, October 3rd. Argus upgraded shares of Clorox from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Tuesday, September 25th. ValuEngine upgraded shares of Clorox from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. BMO Capital Markets restated a “buy” rating and set a $153.00 target price on shares of Clorox in a research report on Friday, August 3rd. Finally, Barclays set a $131.00 target price on shares of Clorox and gave the company a “hold” rating in a research report on Saturday, October 6th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Clorox has an average rating of “Hold” and a consensus target price of $137.21.
Shares of NYSE:CLX opened at $144.84 on Friday. The company has a market capitalization of $19.21 billion, a P/E ratio of 23.02, a PEG ratio of 3.11 and a beta of 0.36. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.67 and a current ratio of 1.09. Clorox Co has a fifty-two week low of $113.57 and a fifty-two week high of $153.38.
Clorox (NYSE:CLX) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.72 billion. Clorox had a net margin of 13.44% and a return on equity of 103.18%. Clorox’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.53 EPS. On average, analysts forecast that Clorox Co will post 6.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Wednesday, October 31st will be given a $0.96 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.65%. Clorox’s dividend payout ratio is 61.34%.
In related news, EVP Laura Stein sold 12,880 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $144.10, for a total value of $1,856,008.00. Following the sale, the executive vice president now directly owns 74,483 shares in the company, valued at approximately $10,733,000.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Dawn C. Willoughby sold 3,387 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $148.01, for a total transaction of $501,309.87. The disclosure for this sale can be found here. Insiders sold a total of 29,268 shares of company stock worth $4,196,686 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.
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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