City Holding Co. grew its holdings in The Clorox Company (NYSE:CLX) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,359 shares of the company’s stock after purchasing an additional 510 shares during the period. City Holding Co.’s holdings in The Clorox were worth $2,191,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Grandfield & Dodd LLC lifted its stake in shares of The Clorox by 4.8% in the 4th quarter. Grandfield & Dodd LLC now owns 1,210 shares of the company’s stock worth $240,000 after purchasing an additional 55 shares during the period. AFT Forsyth & Company Inc. increased its stake in The Clorox by 1.8% in the 4th quarter. AFT Forsyth & Company Inc. now owns 3,075 shares of the company’s stock worth $621,000 after buying an additional 55 shares in the last quarter. Ziegler Capital Management LLC raised its holdings in The Clorox by 1.8% during the fourth quarter. Ziegler Capital Management LLC now owns 3,283 shares of the company’s stock valued at $663,000 after acquiring an additional 59 shares during the period. Syntal Capital Partners LLC lifted its position in shares of The Clorox by 0.9% in the fourth quarter. Syntal Capital Partners LLC now owns 6,682 shares of the company’s stock valued at $1,349,000 after acquiring an additional 59 shares in the last quarter. Finally, Slow Capital Inc. grew its position in shares of The Clorox by 0.5% during the fourth quarter. Slow Capital Inc. now owns 10,840 shares of the company’s stock worth $2,189,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 81.73% of the company’s stock.
CLX has been the subject of several research reports. Bank of America dropped their price objective on shares of The Clorox from $245.00 to $235.00 and set a “neutral” rating for the company in a report on Friday, January 22nd. Sanford C. Bernstein initiated coverage on shares of The Clorox in a report on Tuesday, January 19th. They issued a “market perform” rating and a $206.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of The Clorox from $205.00 to $196.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley dropped their price objective on shares of The Clorox from $190.00 to $182.00 and set an “underweight” rating for the company in a research note on Thursday, January 14th. Finally, Wells Fargo & Company reaffirmed a “buy” rating and issued a $240.00 price target on shares of The Clorox in a report on Wednesday, February 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $214.35.
The Clorox (NYSE:CLX) last released its quarterly earnings results on Wednesday, February 3rd. The company reported $2.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.25. The Clorox had a net margin of 16.14% and a return on equity of 132.72%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was up 27.1% on a year-over-year basis. Analysts forecast that The Clorox Company will post 8.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Shareholders of record on Wednesday, April 21st will be paid a $1.11 dividend. The ex-dividend date is Tuesday, April 20th. This represents a $4.44 annualized dividend and a yield of 2.33%. The Clorox’s dividend payout ratio (DPR) is 60.33%.
In other news, COO Eric H. Reynolds sold 3,147 shares of the firm’s stock in a transaction on Monday, January 25th. The stock was sold at an average price of $214.07, for a total value of $673,678.29. Following the completion of the sale, the chief operating officer now owns 16,997 shares of the company’s stock, valued at approximately $3,638,547.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin B. Jacobsen sold 35,176 shares of the business’s stock in a transaction on Monday, January 25th. The stock was sold at an average price of $215.00, for a total value of $7,562,840.00. Following the transaction, the chief financial officer now owns 26,491 shares in the company, valued at $5,695,565. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by insiders.
The 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 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.
Further Reading: Diversification Important in Investing
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