State of Michigan Retirement System Grows Position in Clorox Co (NYSE:CLX)

State of Michigan Retirement System grew its stake in Clorox Co (NYSE:CLX) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,903 shares of the company’s stock after buying an additional 3,133 shares during the period. State of Michigan Retirement System’s holdings in Clorox were worth $6,999,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Everett Harris & Co. CA acquired a new position in shares of Clorox in the 2nd quarter valued at $219,000. Carl P. Sherr & Co. LLC purchased a new stake in Clorox during the 2nd quarter valued at about $219,000. Eads & Heald Wealth Management increased its holdings in shares of Clorox by 0.9% in the second quarter. Eads & Heald Wealth Management now owns 6,635 shares of the company’s stock valued at $1,456,000 after purchasing an additional 60 shares during the period. Mattern Wealth Management LLC raised its stake in shares of Clorox by 111.5% in the second quarter. Mattern Wealth Management LLC now owns 4,631 shares of the company’s stock worth $1,016,000 after purchasing an additional 2,441 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Clorox during the second quarter worth about $3,302,000. Institutional investors and hedge funds own 78.55% of the company’s stock.

Shares of CLX stock opened at $236.51 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 3.69. Clorox Co has a 12-month low of $144.12 and a 12-month high of $238.00. The business’s 50 day moving average is $221.18 and its two-hundred day moving average is $190.13. The company has a market capitalization of $29.78 billion, a P/E ratio of 34.68, a P/E/G ratio of 5.42 and a beta of 0.27.

Clorox (NYSE:CLX) last announced its earnings results on Friday, May 1st. The company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. Clorox had a return on equity of 147.52% and a net margin of 13.67%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company posted $1.44 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, research analysts predict that Clorox Co will post 6.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 29th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Tuesday, July 28th. This is a boost from Clorox’s previous quarterly dividend of $1.06. This represents a $4.44 dividend on an annualized basis and a yield of 1.88%. Clorox’s dividend payout ratio is currently 70.25%.

In other Clorox news, SVP Diego J. Barral sold 11,031 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $203.60, for a total transaction of $2,245,911.60. Following the completion of the sale, the senior vice president now directly owns 20,037 shares in the company, valued at approximately $4,079,533.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Diego J. Barral sold 7,955 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $203.72, for a total value of $1,620,592.60. Following the transaction, the senior vice president now directly owns 17,466 shares of the company’s stock, valued at approximately $3,558,173.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,011 shares of company stock worth $14,788,606. Insiders own 1.14% of the company’s stock.

A number of research firms have issued reports on CLX. Morgan Stanley raised their price target on shares of Clorox from $177.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. Royal Bank of Canada restated a “hold” rating and set a $195.00 target price on shares of Clorox in a research report on Tuesday, April 14th. JPMorgan Chase & Co. increased their price target on Clorox from $203.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Cfra boosted their price objective on Clorox from $170.00 to $190.00 and gave the company a “hold” rating in a report on Friday, May 1st. Finally, DA Davidson initiated coverage on Clorox in a report on Monday, June 29th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $185.08.

Clorox 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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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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