Confluence Investment Management LLC decreased its position in shares of The Clorox Company (NYSE:CLX – Free Report) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,170,417 shares of the company’s stock after selling 77,227 shares during the period. Clorox accounts for about 1.4% of Confluence Investment Management LLC’s investment portfolio, making the stock its 22nd largest holding. Confluence Investment Management LLC owned 0.97% of Clorox worth $94,815,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in Clorox by 11.8% in the 2nd quarter. NewEdge Advisors LLC now owns 75,135 shares of the company’s stock valued at $7,171,000 after acquiring an additional 7,956 shares during the last quarter. Corient Private Wealth LP acquired a new position in shares of Clorox in the 2nd quarter worth approximately $6,621,000. Bank of America Corp DE raised its holdings in shares of Clorox by 6.1% in the 1st quarter. Bank of America Corp DE now owns 1,405,774 shares of the company’s stock worth $145,680,000 after purchasing an additional 80,618 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Clorox by 47.0% in the 2nd quarter. HighTower Advisors LLC now owns 83,053 shares of the company’s stock worth $7,927,000 after purchasing an additional 26,552 shares in the last quarter. Finally, MAC Alpha Capital Management LP lifted its stake in Clorox by 88.7% during the second quarter. MAC Alpha Capital Management LP now owns 263,789 shares of the company’s stock valued at $25,178,000 after purchasing an additional 124,019 shares during the last quarter. 78.53% of the stock is owned by institutional investors.
Clorox Stock Down 0.9%
NYSE:CLX traded down $0.75 during trading hours on Thursday, hitting $80.26. 1,556,292 shares of the company’s stock traded hands, compared to its average volume of 2,652,154. The stock’s fifty day moving average price is $96.20 and its two-hundred day moving average price is $97.16. The firm has a market cap of $9.71 billion, a P/E ratio of 16.65, a P/E/G ratio of 2.55 and a beta of 0.56. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The Clorox Company has a twelve month low of $79.12 and a twelve month high of $128.90.
Clorox Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, October 28th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Wednesday, October 28th. Clorox’s dividend payout ratio (DPR) is currently 103.73%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Clorox in a report on Friday, July 10th. BNP Paribas Exane decreased their target price on Clorox from $97.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. UBS Group reaffirmed a “neutral” rating on shares of Clorox in a research report on Friday, September 11th. Wall Street Zen upgraded Clorox from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Finally, Jefferies Financial Group downgraded Clorox from a “buy” rating to a “hold” rating and cut their price objective for the stock from $125.00 to $98.00 in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $101.40.
Get Our Latest Analysis on Clorox
About Clorox
The Clorox Company is a consumer and professional products company that develops, manufactures and markets household cleaning, disinfecting, wellness and personal care products. Its portfolio includes the Clorox bleach and cleaning brands, as well as products sold under brands such as Pine-Sol, Liquid-Plumr, Fresh Step, Scoop Away, Kingsford, Hidden Valley, Burt’s Bees and Brita.
Clorox also offers trash bags, food products, water-filtration systems, charcoal and grilling products, cat litter, and professional cleaning and disinfecting solutions.
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