State of Alaska Department of Revenue cut its stake in shares of Clorox Co (NYSE:CLX) by 50.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,436 shares of the company’s stock after selling 79,306 shares during the period. State of Alaska Department of Revenue owned 0.06% of Clorox worth $11,944,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ostrum Asset Management acquired a new position in Clorox during the first quarter valued at approximately $112,000. Fort L.P. acquired a new position in Clorox during the second quarter valued at approximately $129,000. IMS Capital Management acquired a new position in Clorox during the second quarter valued at approximately $161,000. Piedmont Investment Advisors LLC acquired a new position in Clorox during the second quarter valued at approximately $199,000. Finally, Northstar Investment Advisors LLC acquired a new position in Clorox during the second quarter valued at approximately $202,000. 78.36% of the stock is owned by hedge funds and other institutional investors.
CLX has been the subject of several recent research reports. Zacks Investment Research cut Clorox from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine raised Clorox from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Argus raised Clorox from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a research report on Tuesday, September 25th. BMO Capital Markets reaffirmed a “buy” rating and issued a $153.00 price objective on shares of Clorox in a research report on Friday, August 3rd. Finally, Goldman Sachs Group cut Clorox from a “neutral” rating to a “sell” rating and cut their price objective for the company from $127.00 to $112.00 in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $137.21.
Clorox (NYSE:CLX) last released its quarterly earnings data on Thursday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.08. Clorox had a return on equity of 103.18% and a net margin of 13.44%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $1.53 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Clorox Co will post 6.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.96 per share. The ex-dividend date is Tuesday, October 30th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.60%. Clorox’s dividend payout ratio (DPR) is currently 61.34%.
In other news, SVP Michael R. Costello sold 9,265 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $140.02, for a total transaction of $1,297,285.30. Following the transaction, the senior vice president now owns 34,293 shares in the company, valued at $4,801,705.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Laura Stein sold 12,880 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $144.10, for a total value of $1,856,008.00. Following the transaction, the executive vice president now owns 74,483 shares in the company, valued at approximately $10,733,000.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,268 shares of company stock worth $4,196,686. 1.00% of the stock is owned by corporate insiders.
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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