King Luther Capital Management Corp decreased its holdings in Clorox Co (NYSE:CLX) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,390 shares of the company’s stock after selling 197 shares during the quarter. King Luther Capital Management Corp’s holdings in Clorox were worth $1,346,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Athena Capital Advisors LLC bought a new stake in shares of Clorox in the 4th quarter valued at $25,000. Zions Bancorporation N.A. acquired a new position in shares of Clorox during the 1st quarter valued at $28,000. Capital Financial Planning LLC acquired a new position in shares of Clorox during the 4th quarter valued at $32,000. Paragon Capital Management LLC acquired a new position in shares of Clorox during the 1st quarter valued at $35,000. Finally, Penserra Capital Management LLC acquired a new position in shares of Clorox during the 1st quarter valued at $36,000. Institutional investors and hedge funds own 77.56% of the company’s stock.
CLX has been the topic of several research reports. Credit Suisse Group initiated coverage on shares of Clorox in a report on Wednesday, March 6th. They set an “outperform” rating and a $172.00 price objective on the stock. Wells Fargo & Co lowered their price objective on shares of Clorox from $157.00 to $153.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Argus downgraded shares of Clorox from a “buy” rating to a “hold” rating in a report on Monday, May 20th. BMO Capital Markets set a $168.00 target price on shares of Clorox and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Clorox from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $159.00 to $139.00 in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $149.29.
Clorox (NYSE:CLX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.03). Clorox had a net margin of 12.68% and a return on equity of 108.82%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the business posted $1.37 earnings per share. Clorox’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that Clorox Co will post 6.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Wednesday, July 31st will be given a $1.06 dividend. This is a positive change from Clorox’s previous quarterly dividend of $0.96. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, July 30th. Clorox’s dividend payout ratio (DPR) is 61.34%.
In related news, SVP Denise Garner sold 20,399 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $157.61, for a total value of $3,215,086.39. Following the sale, the senior vice president now directly owns 4,896 shares of the company’s stock, valued at $771,658.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
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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