Great Lakes Advisors LLC Reduces Holdings in The Clorox Company (NYSE:CLX)

Posted by Defense World Staff on Aug 21st, 2023

Great Lakes Advisors LLC cut its stake in shares of The Clorox Company (NYSE:CLX – Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,672 shares of the company’s stock after selling 192 shares during the quarter. Great Lakes Advisors LLC’s holdings in Clorox were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CLX. Kennon Green & Company LLC lifted its holdings in Clorox by 4.4% in the 1st quarter. Kennon Green & Company LLC now owns 1,558 shares of the company’s stock worth $247,000 after buying an additional 66 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Clorox by 1.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 5,132 shares of the company’s stock worth $720,000 after buying an additional 66 shares during the period. Robinson Value Management Ltd. lifted its holdings in Clorox by 0.6% in the 4th quarter. Robinson Value Management Ltd. now owns 11,285 shares of the company’s stock worth $1,584,000 after buying an additional 67 shares during the period. M Holdings Securities Inc. lifted its holdings in Clorox by 0.9% in the 4th quarter. M Holdings Securities Inc. now owns 7,523 shares of the company’s stock worth $1,056,000 after buying an additional 68 shares during the period. Finally, Bontempo Ohly Capital Mgmt LLC lifted its holdings in Clorox by 0.3% in the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 22,120 shares of the company’s stock worth $3,104,000 after buying an additional 72 shares during the period. 79.37% of the stock is currently owned by hedge funds and other institutional investors.

Clorox Stock Down 0.2 %

NYSE:CLX opened at $153.85 on Monday. The firm has a 50-day simple moving average of $156.81 and a two-hundred day simple moving average of $157.87. The firm has a market cap of $19.05 billion, a P/E ratio of 129.29, a P/E/G ratio of 2.22 and a beta of 0.29. The Clorox Company has a fifty-two week low of $124.58 and a fifty-two week high of $178.21. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.59 and a current ratio of 0.95.

Clorox (NYSE:CLX – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.48. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.88 billion. Clorox had a net margin of 2.02% and a return on equity of 163.56%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. Analysts predict that The Clorox Company will post 5.87 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.12%. This is a boost from Clorox’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Tuesday, August 8th. Clorox’s payout ratio is presently 403.36%.

Insider Activity

In other news, CFO Kevin B. Jacobsen sold 3,346 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $160.82, for a total transaction of $538,103.72. Following the completion of the transaction, the chief financial officer now directly owns 23,224 shares of the company’s stock, valued at $3,734,883.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CLX has been the subject of several research analyst reports. UBS Group increased their price objective on Clorox from $148.00 to $162.00 in a report on Wednesday, May 3rd. Royal Bank of Canada increased their price objective on Clorox from $137.00 to $151.00 in a report on Wednesday, May 3rd. Atlantic Securities raised Clorox from an “underweight” rating to a “neutral” rating in a research report on Thursday, August 3rd. Raymond James raised their target price on Clorox from $165.00 to $185.00 in a research note on Wednesday, May 3rd. Finally, StockNews.com started coverage on Clorox in a report on Thursday. They issued a “buy” rating for the company. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $150.38.

Read Our Latest Stock Report on Clorox

About Clorox

(Free Report)

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.