Truist Financial Corp lowered its stake in shares of The Clorox Company (NYSE:CLX – Free Report) by 17.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,856 shares of the company’s stock after selling 22,399 shares during the quarter. Truist Financial Corp owned about 0.09% of Clorox worth $17,225,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in Clorox by 18.0% during the first quarter. American Century Companies Inc. now owns 8,320 shares of the company’s stock valued at $1,157,000 after acquiring an additional 1,269 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Clorox by 6.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,465 shares of the company’s stock valued at $2,289,000 after purchasing an additional 1,044 shares during the period. Cibc World Market Inc. grew its holdings in Clorox by 276.6% in the 1st quarter. Cibc World Market Inc. now owns 9,318 shares of the company’s stock valued at $1,295,000 after buying an additional 6,844 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Clorox by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 683,818 shares of the company’s stock valued at $95,073,000 after buying an additional 5,145 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Clorox by 81.1% in the 1st quarter. Blair William & Co. IL now owns 24,525 shares of the company’s stock worth $3,410,000 after buying an additional 10,981 shares during the period. Institutional investors and hedge funds own 79.37% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on CLX. Royal Bank of Canada raised their price objective on shares of Clorox from $137.00 to $151.00 in a research note on Wednesday, May 3rd. Atlantic Securities upgraded shares of Clorox from an “underweight” rating to a “neutral” rating in a research report on Thursday, August 3rd. UBS Group upped their price objective on shares of Clorox from $148.00 to $162.00 in a research report on Wednesday, May 3rd. Barclays lifted their target price on Clorox from $117.00 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, August 4th. Finally, StockNews.com raised Clorox from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $150.38.
Clorox Trading Down 0.3 %
Shares of CLX opened at $162.09 on Wednesday. The Clorox Company has a 52-week low of $124.58 and a 52-week high of $178.21. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 136.21, a PEG ratio of 2.36 and a beta of 0.29. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.59 and a current ratio of 0.95. The stock has a fifty day moving average price of $156.87 and a two-hundred day moving average price of $156.97.
Clorox (NYSE:CLX – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.48. Clorox had a net margin of 2.02% and a return on equity of 163.56%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $0.93 earnings per share. Clorox’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts predict that The Clorox Company will post 5.9 EPS for the current fiscal year.
Clorox Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th will be issued a dividend of $1.20 per share. This is a boost from Clorox’s previous quarterly dividend of $1.18. This represents a $4.80 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, August 8th. Clorox’s payout ratio is currently 396.64%.
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 Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.
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