Coastal Investment Advisors Inc. lowered its holdings in shares of The Clorox Company (NYSE:CLX) by 23.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,065 shares of the company’s stock after selling 618 shares during the period. Coastal Investment Advisors Inc.’s holdings in The Clorox were worth $417,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in The Clorox in the first quarter worth approximately $65,000. PNC Financial Services Group Inc. lifted its holdings in The Clorox by 55.1% during the second quarter. PNC Financial Services Group Inc. now owns 570,327 shares of the company’s stock valued at $125,112,000 after purchasing an additional 202,500 shares in the last quarter. Marshall Wace LLP lifted its holdings in The Clorox by 536.7% during the second quarter. Marshall Wace LLP now owns 2,012 shares of the company’s stock valued at $441,000 after purchasing an additional 1,696 shares in the last quarter. FMR LLC lifted its holdings in The Clorox by 530.5% during the second quarter. FMR LLC now owns 951,642 shares of the company’s stock valued at $208,762,000 after purchasing an additional 800,697 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in The Clorox by 0.7% during the second quarter. Sei Investments Co. now owns 60,070 shares of the company’s stock valued at $13,212,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.
CLX has been the topic of several research reports. BidaskClub downgraded shares of The Clorox from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Royal Bank of Canada raised their price target on shares of The Clorox from $218.00 to $221.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 3rd. JPMorgan Chase & Co. downgraded shares of The Clorox from an “overweight” rating to a “neutral” rating and set a $235.00 price target on the stock. in a research note on Friday, October 16th. They noted that the move was a valuation call. Wells Fargo & Company initiated coverage on shares of The Clorox in a research note on Monday, December 7th. They issued an “overweight” rating and a $250.00 price target on the stock. Finally, Smith Barney Citigroup raised shares of The Clorox from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $238.00 to $249.00 in a research note on Monday, December 14th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $220.53.
The Clorox (NYSE:CLX) last issued its quarterly earnings results on Saturday, November 7th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.90. The Clorox had a net margin of 16.14% and a return on equity of 132.72%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, research analysts anticipate that The Clorox Company will post 8.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Wednesday, January 27th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Tuesday, January 26th. This represents a $4.44 dividend on an annualized basis and a yield of 2.29%. The Clorox’s dividend payout ratio is currently 60.33%.
In other news, EVP Eric H. Reynolds sold 1,824 shares of the business’s stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $207.41, for a total transaction of $378,315.84. Following the completion of the sale, the executive vice president now owns 21,546 shares in the company, valued at approximately $4,468,855.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Diego J. Barral sold 1,443 shares of the business’s stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $207.14, for a total transaction of $298,903.02. Following the sale, the senior vice president now owns 6,529 shares of the company’s stock, valued at approximately $1,352,417.06. The disclosure for this sale can be found here. Insiders have sold a total of 473,319 shares of company stock valued at $95,666,491 in the last 90 days. Insiders own 1.09% of the company’s stock.
The Clorox Company 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 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, Scentiva, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; professional cleaning, disinfecting, and food service products under the CloroxPro, Clorox Healthcare, and Clorox Total 360 brands; professional food service products under the Hidden Valley brand; and vitamins, minerals, and supplement products under the RenewLife, Rainbow Light, Natural Vitality, NeoCell, and Stop Aging Now brands.
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