Canandaigua National Bank & Trust Co. Holds Stake in Clorox Co. (CLX)
Canandaigua National Bank & Trust Co. maintained its position in Clorox Co. (NYSE:CLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,410 shares of the company’s stock at the end of the second quarter. Canandaigua National Bank & Trust Co.’s holdings in Clorox were worth $1,441,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CLX. BlackRock Institutional Trust Company N.A. boosted its position in Clorox by 7.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,504,422 shares of the company’s stock worth $567,827,000 after buying an additional 313,224 shares during the period. BlackRock Group LTD boosted its position in Clorox by 18.2% in the first quarter. BlackRock Group LTD now owns 1,592,689 shares of the company’s stock worth $200,775,000 after buying an additional 245,650 shares during the period. Geode Capital Management LLC boosted its position in Clorox by 2.7% in the first quarter. Geode Capital Management LLC now owns 1,182,810 shares of the company’s stock worth $148,838,000 after buying an additional 30,881 shares during the period. Norges Bank purchased a new position in Clorox during the fourth quarter worth approximately $98,583,000. Finally, Legal & General Group Plc boosted its position in Clorox by 1.7% in the first quarter. Legal & General Group Plc now owns 682,421 shares of the company’s stock worth $86,041,000 after buying an additional 11,428 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.
Clorox Co. (NYSE:CLX) traded up 0.79% during trading on Wednesday, reaching $124.41. The company had a trading volume of 683,221 shares. Clorox Co. has a 52-week low of $113.37 and a 52-week high of $140.47. The stock has a 50 day moving average price of $129.33 and a 200-day moving average price of $130.06. The company has a market capitalization of $16.11 billion, a PE ratio of 25.29 and a beta of 0.33.
Clorox (NYSE:CLX) last released its earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The company earned $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Clorox had a return on equity of 296.91% and a net margin of 11.25%. Clorox’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. On average, equities research analysts anticipate that Clorox Co. will post $5.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Wednesday, October 26th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, October 24th. Clorox’s payout ratio is currently 64.91%.
A number of research analysts have commented on CLX shares. Jefferies Group restated a “hold” rating on shares of Clorox in a research note on Wednesday, August 3rd. B. Riley restated a “neutral” rating and set a $109.00 price target on shares of Clorox in a research note on Tuesday, August 9th. Atlantic Securities started coverage on Clorox in a research note on Tuesday, June 14th. They set a “neutral” rating and a $138.00 price target on the stock. Deutsche Bank AG restated a “hold” rating and set a $134.00 price target (up from $130.00) on shares of Clorox in a research note on Sunday, July 24th. Finally, Zacks Investment Research cut Clorox from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Clorox presently has an average rating of “Hold” and a consensus target price of $128.90.
In related news, EVP Laura Stein sold 38,882 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $131.69, for a total transaction of $5,120,370.58. Following the completion of the sale, the executive vice president now owns 48,501 shares of the company’s stock, valued at approximately $6,387,096.69. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Nikolaos A. Vlahos sold 925 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $133.07, for a total transaction of $123,089.75. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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