Granite Bay Wealth Management LLC Takes Position in The Clorox Company (NYSE:CLX)

Granite Bay Wealth Management LLC acquired a new stake in shares of The Clorox Company (NYSE:CLX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,100 shares of the company’s stock, valued at approximately $569,000.

Other institutional investors also recently made changes to their positions in the company. Tyler Stone Wealth Management purchased a new stake in shares of Clorox during the 2nd quarter valued at $25,000. Fortitude Family Office LLC purchased a new stake in shares of Clorox during the 4th quarter valued at $29,000. American National Bank grew its stake in shares of Clorox by 2,466.7% during the 3rd quarter. American National Bank now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 222 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Clorox during the 1st quarter valued at $31,000. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of Clorox during the 2nd quarter valued at $35,000. 78.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on CLX shares. UBS Group upped their price target on shares of Clorox from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Jefferies Financial Group raised shares of Clorox from an “underperform” rating to a “hold” rating and set a $145.00 price target for the company in a research report on Tuesday, March 26th. DA Davidson reaffirmed a “neutral” rating and set a $162.00 price target on shares of Clorox in a research report on Monday, February 5th. Citigroup reaffirmed a “neutral” rating and set a $165.00 price target (down from $170.00) on shares of Clorox in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Clorox from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $149.13.

Clorox Stock Down 1.9 %

Shares of Clorox stock traded down $2.82 during trading on Friday, reaching $141.98. The company had a trading volume of 702,379 shares, compared to its average volume of 1,208,380. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 225.37, a price-to-earnings-growth ratio of 2.21 and a beta of 0.43. The firm’s fifty day moving average is $151.19 and its 200-day moving average is $141.43. The company has a debt-to-equity ratio of 11.37, a quick ratio of 0.57 and a current ratio of 0.89. The Clorox Company has a fifty-two week low of $114.68 and a fifty-two week high of $178.21.

Clorox (NYSE:CLX) last issued its earnings results on Thursday, February 1st. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $1.08. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.80 billion. Clorox had a net margin of 1.09% and a return on equity of 319.41%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. On average, analysts anticipate that The Clorox Company will post 5.52 EPS for the current year.

Clorox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.38%. Clorox’s dividend payout ratio (DPR) is presently 761.92%.

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.