State Treasurer State of Michigan lowered its position in shares of Clorox Co (NYSE:CLX) by 17.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,470 shares of the company’s stock after selling 6,500 shares during the period. State Treasurer State of Michigan’s holdings in Clorox were worth $4,665,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Life Insurance Co. grew its position in shares of Clorox by 2.7% during the second quarter. Sumitomo Life Insurance Co. now owns 6,699 shares of the company’s stock worth $1,026,000 after acquiring an additional 178 shares during the last quarter. Putnam FL Investment Management Co. bought a new position in Clorox in the 2nd quarter valued at about $126,000. Chemical Bank grew its position in Clorox by 3.2% in the 2nd quarter. Chemical Bank now owns 12,562 shares of the company’s stock valued at $1,923,000 after buying an additional 395 shares in the last quarter. Troy Asset Management Ltd grew its position in Clorox by 17.4% in the 2nd quarter. Troy Asset Management Ltd now owns 55,200 shares of the company’s stock valued at $8,452,000 after buying an additional 8,200 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in Clorox in the 2nd quarter valued at about $396,000. Institutional investors and hedge funds own 76.83% of the company’s stock.
NYSE CLX traded down $1.18 on Friday, reaching $157.80. The company’s stock had a trading volume of 8,690 shares, compared to its average volume of 1,080,957. Clorox Co has a twelve month low of $139.26 and a twelve month high of $167.70. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 4.09. The company has a market capitalization of $20.30 billion, a PE ratio of 25.00, a PEG ratio of 4.85 and a beta of 0.37. The business has a 50 day moving average price of $157.99.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $1.06 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a positive change from Clorox’s previous quarterly dividend of $0.96. This represents a $4.24 dividend on an annualized basis and a yield of 2.69%. Clorox’s dividend payout ratio is currently 67.09%.
In other Clorox news, SVP Diego J. Barral sold 1,987 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $157.59, for a total transaction of $313,131.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Denise Garner sold 20,399 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $157.61, for a total transaction of $3,215,086.39. Following the sale, the senior vice president now directly owns 4,896 shares of the company’s stock, valued at $771,658.56. The disclosure for this sale can be found here. Insiders have sold 25,786 shares of company stock valued at $4,054,776 over the last ninety days. Insiders own 1.40% of the company’s stock.
A number of brokerages recently issued reports on CLX. Morgan Stanley increased their target price on shares of Clorox from $141.00 to $144.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Bank of America reiterated a “neutral” rating and issued a $154.00 target price (down previously from $165.00) on shares of Clorox in a research report on Thursday, May 2nd. ValuEngine lowered shares of Clorox from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets set a $168.00 target price on shares of Clorox and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Deutsche Bank upgraded shares of Clorox from a “sell” rating to a “hold” rating and set a $139.00 target price for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Clorox presently has an average rating of “Hold” and an average price target of $154.07.
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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