Pinnacle Associates Ltd. Has $3.09 Million Stake in The Clorox Company (NYSE:CLX)

Posted by on Apr 6th, 2023

Pinnacle Associates Ltd. decreased its position in The Clorox Company (NYSE:CLX – Get Rating) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,646 shares of the company’s stock after selling 149 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Clorox were worth $3,087,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hallmark Capital Management Inc. acquired a new position in shares of Clorox during the 3rd quarter worth about $29,000. Carolinas Wealth Consulting LLC increased its position in shares of Clorox by 10,476.2% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 13,749 shares of the company’s stock worth $30,000 after purchasing an additional 13,619 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Clorox by 65.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 252 shares of the company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Intelligent Financial Strategies acquired a new stake in shares of Clorox in the 4th quarter valued at approximately $36,000. Finally, Affiance Financial LLC acquired a new position in Clorox during the fourth quarter worth $43,000. 79.12% of the stock is currently owned by institutional investors.

Clorox Stock Up 1.0 %

NYSE CLX opened at $157.42 on Thursday. The company has a market cap of $19.45 billion, a price-to-earnings ratio of 44.98, a PEG ratio of 3.20 and a beta of 0.30. The Clorox Company has a 1-year low of $120.50 and a 1-year high of $160.59. The company has a current ratio of 0.86, a quick ratio of 0.47 and a debt-to-equity ratio of 5.04. The company has a 50 day moving average of $152.71 and a 200-day moving average of $145.63.

Clorox (NYSE:CLX – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.32. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Clorox had a return on equity of 89.97% and a net margin of 6.16%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. On average, equities research analysts expect that The Clorox Company will post 4.23 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Wednesday, April 26th will be issued a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, April 25th. Clorox’s dividend payout ratio is currently 134.86%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Clorox from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Tuesday, January 3rd. UBS Group upped their price objective on Clorox from $129.00 to $140.00 in a research note on Friday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on Clorox from $152.00 to $147.00 in a report on Monday, March 20th. Morgan Stanley raised their price target on Clorox from $142.00 to $145.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Finally, Barclays decreased their price objective on shares of Clorox from $110.00 to $108.00 and set an “underweight” rating on the stock in a report on Monday, February 6th. Seven analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $142.27.

Clorox Profile

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The Clorox Co engages in the manufacture and marketing of consumer and professional products. It operates through the following business segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment consists of cleaning products, professional products and vitamins, minerals and supplements mainly marketed and sold in the United States.

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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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