Pinnacle Wealth Management Advisory Group LLC Reduces Position in The Clorox Company (NYSE:CLX)

Pinnacle Wealth Management Advisory Group LLC lessened its position in shares of The Clorox Company (NYSE:CLX) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,121 shares of the company’s stock after selling 616 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Clorox were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CLX. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Clorox by 3.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,639 shares of the company’s stock valued at $6,244,000 after acquiring an additional 1,620 shares in the last quarter. IFM Investors Pty Ltd raised its stake in Clorox by 3.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 26,963 shares of the company’s stock worth $3,534,000 after acquiring an additional 1,011 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Clorox by 4.6% during the third quarter. TD Asset Management Inc now owns 301,282 shares of the company’s stock worth $39,486,000 after purchasing an additional 13,181 shares during the last quarter. TIAA Trust National Association purchased a new position in Clorox during the 3rd quarter worth approximately $791,000. Finally, ING Groep NV acquired a new stake in shares of Clorox in the third quarter valued at approximately $71,000. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CLX shares. DA Davidson restated a “neutral” rating and issued a $162.00 price target on shares of Clorox in a research report on Wednesday, April 17th. The Goldman Sachs Group initiated coverage on Clorox in a report on Friday, March 1st. They set a “sell” rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Clorox from $155.00 to $151.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their price objective on Clorox from $159.00 to $158.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Jefferies Financial Group raised shares of Clorox from an “underperform” rating to a “hold” rating and set a $145.00 target price for the company in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $146.43.

Clorox Price Performance

Shares of CLX stock traded up $1.19 during mid-day trading on Thursday, hitting $141.61. 351,273 shares of the stock were exchanged, compared to its average volume of 1,260,331. The firm has a fifty day moving average of $148.00 and a 200 day moving average of $143.67. The company has a market cap of $17.59 billion, a PE ratio of 73.44, a price-to-earnings-growth ratio of 2.13 and a beta of 0.44. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 9.73. The Clorox Company has a 52-week low of $114.68 and a 52-week high of $170.43.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.38. Clorox had a net margin of 3.33% and a return on equity of 302.49%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business posted $1.51 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. Research analysts anticipate that The Clorox Company will post 5.83 earnings per share for the current year.

Clorox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, April 23rd. Clorox’s dividend payout ratio is 248.70%.

About Clorox

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.