Comerica Bank Raises Stock Position in The Clorox Company (NYSE:CLX)

Posted by on Apr 13th, 2023

Comerica Bank increased its position in shares of The Clorox Company (NYSE:CLX – Get Rating) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,067 shares of the company’s stock after purchasing an additional 2,913 shares during the period. Comerica Bank’s holdings in Clorox were worth $4,597,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hallmark Capital Management Inc. bought a new stake in Clorox during the 3rd quarter valued at about $29,000. Massmutual Trust Co. FSB ADV grew its position in 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 during the last quarter. Intelligent Financial Strategies purchased a new stake in Clorox during the 4th quarter worth approximately $36,000. Affiance Financial LLC purchased a new stake in shares of Clorox in the 4th quarter valued at $43,000. Finally, General Partner Inc. purchased a new stake in shares of Clorox in the 4th quarter valued at $47,000. 79.12% of the stock is owned by hedge funds and other institutional investors.

Clorox Stock Performance

Shares of CLX opened at $157.23 on Thursday. 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 firm has a market cap of $19.42 billion, a PE ratio of 44.92, a price-to-earnings-growth ratio of 3.19 and a beta of 0.30. The company’s 50 day simple moving average is $154.23 and its 200-day simple moving average is $146.20. The Clorox Company has a 12-month low of $120.50 and a 12-month high of $160.59.

Clorox (NYSE:CLX – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.32. Clorox had a net margin of 6.16% and a return on equity of 89.97%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm posted $0.66 EPS. Clorox’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that The Clorox Company will post 4.23 EPS for the current year.

Clorox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Wednesday, April 26th will be paid a dividend of $1.18 per share. The ex-dividend date is Tuesday, April 25th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.00%. Clorox’s dividend payout ratio (DPR) is presently 134.86%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CLX shares. JPMorgan Chase & Co. boosted their target price on shares of Clorox from $126.00 to $135.00 and gave the company an “underweight” rating in a research note on Friday, January 13th. Citigroup initiated coverage on shares of Clorox in a report on Thursday, February 16th. They issued a “neutral” rating and a $155.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Clorox from $135.00 to $145.00 in a research note on Wednesday. Raymond James increased their target price on shares of Clorox from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Clorox from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Wednesday, February 1st. Seven analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $143.91.

About Clorox

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Clorox (NYSE:CLX)

Receive News & Ratings for Clorox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clorox and related companies with MarketBeat.com's FREE daily email newsletter.