Palisade Asset Management LLC grew its stake in Clorox Co (NYSE:CLX) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,180 shares of the company’s stock after acquiring an additional 95 shares during the quarter. Palisade Asset Management LLC’s holdings in Clorox were worth $831,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its stake in Clorox by 7.7% during the 4th quarter. BlackRock Inc. now owns 10,555,837 shares of the company’s stock worth $1,627,074,000 after buying an additional 752,085 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Clorox by 48,033.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,808,980 shares of the company’s stock worth $44,000 after buying an additional 6,794,834 shares during the last quarter. Morgan Stanley grew its stake in Clorox by 178.2% during the 3rd quarter. Morgan Stanley now owns 3,063,813 shares of the company’s stock worth $460,828,000 after buying an additional 1,962,433 shares during the last quarter. Northern Trust Corp grew its stake in Clorox by 2.8% during the 4th quarter. Northern Trust Corp now owns 2,278,268 shares of the company’s stock worth $351,173,000 after buying an additional 61,663 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Clorox by 21.5% during the 4th quarter. Geode Capital Management LLC now owns 1,899,544 shares of the company’s stock worth $292,347,000 after buying an additional 335,835 shares during the last quarter. Hedge funds and other institutional investors own 76.89% of the company’s stock.
Several research analysts recently weighed in on CLX shares. BMO Capital Markets set a $175.00 target price on Clorox and gave the stock a “buy” rating in a research note on Tuesday, February 5th. Credit Suisse Group started coverage on Clorox in a research note on Wednesday, March 6th. They set an “outperform” rating and a $172.00 target price on the stock. Barclays restated a “hold” rating and set a $142.00 target price on shares of Clorox in a research note on Wednesday, February 6th. Wells Fargo & Co restated a “hold” rating and set a $157.00 target price on shares of Clorox in a research note on Thursday, February 21st. Finally, Citigroup set a $171.00 target price on Clorox and gave the stock a “hold” rating in a research note on Tuesday, February 5th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Clorox presently has a consensus rating of “Hold” and a consensus target price of $151.21.
Clorox (NYSE:CLX) last issued its quarterly earnings data on Monday, February 4th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Clorox had a return on equity of 105.97% and a net margin of 12.65%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. Sell-side analysts anticipate that Clorox Co will post 6.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be issued a $0.96 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $3.84 annualized dividend and a dividend yield of 2.49%. Clorox’s dividend payout ratio (DPR) is presently 61.34%.
In other news, SVP Andrew J. Mowery sold 5,340 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $156.44, for a total value of $835,389.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew T. Laszlo sold 10,585 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $153.89, for a total value of $1,628,925.65. Following the completion of the transaction, the senior vice president now directly owns 17,994 shares of the company’s stock, valued at approximately $2,769,096.66. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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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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