Palisade Asset Management LLC Has $831,000 Stake in Clorox Co (CLX)
Palisade Asset Management LLC grew its stake in Clorox Co (NYSE:CLX) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,180 shares of the company’s stock after purchasing an additional 95 shares during the period. Palisade Asset Management LLC’s holdings in Clorox were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of CLX. Oregon Public Employees Retirement Fund grew its position in shares of Clorox by 48,033.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,808,980 shares of the company’s stock valued at $44,000 after purchasing an additional 6,794,834 shares in the last quarter. Morgan Stanley grew its position in shares of Clorox by 178.2% in the third quarter. Morgan Stanley now owns 3,063,813 shares of the company’s stock valued at $460,828,000 after purchasing an additional 1,962,433 shares in the last quarter. Norges Bank purchased a new stake in shares of Clorox in the fourth quarter valued at approximately $175,485,000. BlackRock Inc. grew its position in shares of Clorox by 7.7% in the fourth quarter. BlackRock Inc. now owns 10,555,837 shares of the company’s stock valued at $1,627,074,000 after purchasing an additional 752,085 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Clorox by 21.5% in the fourth quarter. Geode Capital Management LLC now owns 1,899,544 shares of the company’s stock valued at $292,347,000 after purchasing an additional 335,835 shares in the last quarter. Institutional investors and hedge funds own 76.89% of the company’s stock.
Clorox stock traded down $1.04 during mid-day trading on Monday, hitting $154.45. The company’s stock had a trading volume of 735,955 shares, compared to its average volume of 990,674. The firm has a market capitalization of $19.87 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.87 and a beta of 0.32. Clorox Co has a 1 year low of $113.57 and a 1 year high of $167.70. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.66 and a current ratio of 1.15.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, April 24th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Tuesday, April 23rd. Clorox’s dividend payout ratio (DPR) is 61.34%.
In other Clorox news, SVP Andrew J. Mowery sold 5,340 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $156.44, for a total transaction of $835,389.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Matthew T. Laszlo sold 10,585 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $153.89, for a total value of $1,628,925.65. Following the transaction, the senior vice president now owns 17,994 shares in the company, valued at $2,769,096.66. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Several brokerages recently weighed in on CLX. Wells Fargo & Co reiterated a “hold” rating and issued a $157.00 price objective on shares of Clorox in a research report on Thursday, February 21st. BMO Capital Markets set a $175.00 price objective on Clorox and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Zacks Investment Research upgraded Clorox from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a research report on Monday, March 11th. Morgan Stanley set a $142.00 price objective on Clorox and gave the stock a “sell” rating in a research report on Thursday, December 20th. Finally, Credit Suisse Group began coverage on Clorox in a research report on Wednesday, March 6th. They issued an “outperform” rating and a $172.00 price objective for the company. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Clorox currently has a consensus rating of “Hold” and a consensus price target of $151.21.
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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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