Richard C. Young & CO. LTD. Buys 5,481 Shares of Clorox Co (CLX)
Richard C. Young & CO. LTD. grew its stake in shares of Clorox Co (NYSE:CLX) by 422.3% in the 1st quarter, Holdings Channel reports. The firm owned 6,779 shares of the company’s stock after acquiring an additional 5,481 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Clorox were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in Clorox by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 1,019,248 shares of the company’s stock worth $153,305,000 after buying an additional 50,360 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Clorox during the fourth quarter worth $26,000. BB&T Corp increased its position in Clorox by 2.6% during the fourth quarter. BB&T Corp now owns 6,953 shares of the company’s stock worth $1,072,000 after buying an additional 173 shares in the last quarter. Strs Ohio increased its position in Clorox by 77.2% during the fourth quarter. Strs Ohio now owns 22,442 shares of the company’s stock worth $3,459,000 after buying an additional 9,778 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in Clorox by 9.2% during the fourth quarter. IFM Investors Pty Ltd now owns 7,274 shares of the company’s stock worth $1,121,000 after buying an additional 610 shares in the last quarter. 77.92% of the stock is owned by institutional investors and hedge funds.
CLX has been the subject of several recent research reports. Wells Fargo & Co reissued a “hold” rating and set a $157.00 price target on shares of Clorox in a research report on Monday, February 4th. BMO Capital Markets set a $175.00 price objective on Clorox and gave the company a “buy” rating in a research report on Tuesday, February 5th. Citigroup set a $171.00 price objective on Clorox and gave the company a “hold” rating in a research report on Tuesday, February 5th. Barclays reaffirmed a “hold” rating and issued a $142.00 price objective on shares of Clorox in a research report on Wednesday, February 6th. Finally, Credit Suisse Group started 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. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Clorox has a consensus rating of “Hold” and a consensus target price of $149.29.
Clorox stock traded down $1.25 during midday trading on Friday, hitting $149.63. The stock had a trading volume of 728,733 shares, compared to its average volume of 1,042,215. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 2.93. The firm has a market cap of $19.06 billion, a P/E ratio of 23.90, a P/E/G ratio of 4.31 and a beta of 0.31. Clorox Co has a 12 month low of $119.78 and a 12 month high of $167.70.
Clorox (NYSE:CLX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $1.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.03). The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Clorox had a net margin of 12.68% and a return on equity of 108.82%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 earnings per share. As a group, equities research analysts anticipate that Clorox Co will post 6.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Wednesday, July 31st will be issued a $1.06 dividend. This is a positive change from Clorox’s previous quarterly dividend of $0.96. This represents a $4.24 annualized dividend and a yield of 2.83%. The ex-dividend date is Tuesday, July 30th. Clorox’s payout ratio is currently 61.34%.
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Clorox Company Profile
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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