Cullen Frost Bankers Inc. cut its holdings in shares of Clorox Co (NYSE:CLX) by 6.1% during the third quarter, Holdings Channel reports. The fund owned 22,168 shares of the company’s stock after selling 1,428 shares during the period. Cullen Frost Bankers Inc.’s holdings in Clorox were worth $3,367,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. bought a new stake in Clorox during the 2nd quarter worth approximately $340,000. Cambridge Investment Research Advisors Inc. grew its position in Clorox by 3.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 27,406 shares of the company’s stock worth $4,196,000 after acquiring an additional 858 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Clorox by 209.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 37,846 shares of the company’s stock worth $5,795,000 after acquiring an additional 25,599 shares during the last quarter. CWM LLC grew its position in Clorox by 75.6% during the 2nd quarter. CWM LLC now owns 92,127 shares of the company’s stock worth $14,106,000 after acquiring an additional 39,668 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Clorox by 4.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 969,843 shares of the company’s stock worth $148,493,000 after buying an additional 39,390 shares in the last quarter. Institutional investors and hedge funds own 78.42% of the company’s stock.
Shares of CLX stock traded up $0.26 during trading hours on Friday, reaching $147.28. The company had a trading volume of 25,799 shares, compared to its average volume of 896,025. The company has a 50 day moving average of $150.07 and a 200 day moving average of $154.36. The company has a debt-to-equity ratio of 4.69, a current ratio of 0.87 and a quick ratio of 0.52. The firm has a market cap of $18.55 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 4.73 and a beta of 0.38. Clorox Co has a 1-year low of $143.58 and a 1-year high of $167.70.
Clorox (NYSE:CLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.05. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Clorox had a return on equity of 123.56% and a net margin of 13.20%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. As a group, sell-side analysts forecast that Clorox Co will post 6.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Wednesday, October 30th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Tuesday, October 29th. Clorox’s dividend payout ratio (DPR) is currently 67.09%.
In related news, SVP Andrew J. Mowery sold 5,648 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $146.29, for a total value of $826,245.92. Following the completion of the sale, the senior vice president now owns 15,920 shares in the company, valued at approximately $2,328,936.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael R. Costello sold 6,997 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $162.56, for a total transaction of $1,137,432.32. Following the completion of the sale, the senior vice president now owns 29,016 shares of the company’s stock, valued at approximately $4,716,840.96. The disclosure for this sale can be found here. In the last three months, insiders sold 15,870 shares of company stock worth $2,484,000. 1.14% of the stock is currently owned by company insiders.
Several research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Clorox to $161.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $137.00 price objective (down previously from $143.00) on shares of Clorox in a report on Thursday, October 3rd. Deutsche Bank reduced their price objective on Clorox from $151.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Citigroup reduced their price objective on Clorox from $167.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, Cfra downgraded Clorox from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Clorox has a consensus rating of “Hold” and a consensus price target of $152.00.
Clorox Company Profile
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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