Mount Yale Investment Advisors LLC purchased a new position in shares of Clorox Co (NYSE:CLX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,106 shares of the company’s stock, valued at approximately $280,000.
Several other hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Clorox in the fourth quarter valued at $937,000. Standard Life Aberdeen plc raised its stake in shares of Clorox by 1.9% in the fourth quarter. Standard Life Aberdeen plc now owns 36,918 shares of the company’s stock valued at $5,492,000 after purchasing an additional 675 shares in the last quarter. Amalgamated Bank raised its stake in shares of Clorox by 9.6% in the fourth quarter. Amalgamated Bank now owns 16,931 shares of the company’s stock valued at $2,518,000 after purchasing an additional 1,482 shares in the last quarter. Harwood Advisory Group LLC acquired a new position in shares of Clorox in the fourth quarter valued at $239,000. Finally, Geode Capital Management LLC raised its stake in shares of Clorox by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,391,889 shares of the company’s stock valued at $206,607,000 after purchasing an additional 56,431 shares in the last quarter. Institutional investors own 76.22% of the company’s stock.
Clorox stock opened at $135.25 on Friday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.18 and a quick ratio of 0.93. Clorox Co has a 52-week low of $113.57 and a 52-week high of $150.40. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 3.04 and a beta of 0.39.
Clorox (NYSE:CLX) last released its quarterly earnings data on Wednesday, May 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.06. Clorox had a return on equity of 107.93% and a net margin of 13.27%. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company posted $1.31 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. equities analysts anticipate that Clorox Co will post 5.66 EPS for the current fiscal year.
Clorox declared that its board has initiated a stock repurchase program on Thursday, May 24th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 12.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 17th. Shareholders of record on Wednesday, August 1st will be paid a dividend of $0.96 per share. The ex-dividend date is Tuesday, July 31st. This represents a $3.84 annualized dividend and a yield of 2.84%. Clorox’s dividend payout ratio is currently 71.78%.
A number of brokerages recently commented on CLX. ValuEngine upgraded Clorox from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded Clorox from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. BMO Capital Markets cut their target price on Clorox from $147.00 to $131.00 and set an “outperform” rating for the company in a research note on Thursday, May 3rd. Bank of America cut their target price on Clorox from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Thursday, May 3rd. Finally, Morgan Stanley cut their target price on Clorox from $116.00 to $113.00 and set an “underweight” rating for the company in a research note on Thursday, May 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $130.98.
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 fighters and color boosters; 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 and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.
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