Violich Capital Management Inc. trimmed its stake in shares of Clorox Co (NYSE:CLX) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,957 shares of the company’s stock after selling 400 shares during the period. Violich Capital Management Inc.’s holdings in Clorox were worth $1,065,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Clorox by 0.8% during the 1st quarter. BlackRock Inc. now owns 10,639,351 shares of the company’s stock valued at $1,707,189,000 after acquiring an additional 83,514 shares during the period. Northern Trust Corp lifted its position in shares of Clorox by 3.4% during the 1st quarter. Northern Trust Corp now owns 2,355,067 shares of the company’s stock valued at $377,894,000 after acquiring an additional 76,799 shares during the period. Geode Capital Management LLC raised its position in shares of Clorox by 21.5% during the 4th quarter. Geode Capital Management LLC now owns 1,899,544 shares of the company’s stock worth $292,347,000 after purchasing an additional 335,835 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Clorox by 28.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,771,185 shares of the company’s stock worth $284,204,000 after purchasing an additional 391,569 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Clorox during the 4th quarter worth approximately $175,485,000. Institutional investors own 76.92% of the company’s stock.
Several research analysts recently issued reports on the company. Deutsche Bank upgraded Clorox from a “sell” rating to a “hold” rating and set a $139.00 price objective for the company in a research report on Thursday, May 2nd. Argus downgraded Clorox from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Bank of America restated a “neutral” rating and set a $154.00 price objective (down from $165.00) on shares of Clorox in a research report on Thursday, May 2nd. Citigroup set a $156.00 price objective on Clorox and gave the stock a “hold” rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets set a $168.00 price objective on Clorox and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $155.50.
Clorox (NYSE:CLX) last released its earnings results on Wednesday, May 1st. The company reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.03). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Clorox had a return on equity of 108.82% and a net margin of 12.68%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. On average, equities research analysts anticipate that Clorox Co will post 6.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Wednesday, July 31st will be paid a $1.06 dividend. This is a boost from Clorox’s previous quarterly dividend of $0.96. This represents a $4.24 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, July 30th. Clorox’s payout ratio is presently 61.34%.
In other Clorox news, SVP Denise Garner sold 20,399 shares of Clorox 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 completion of the sale, the senior vice president now directly owns 4,896 shares of the company’s stock, valued at approximately $771,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.
Clorox Company Profile
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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