The Clorox Company $CLX Stock Acquired by Equity Investment Corp

Equity Investment Corp lifted its position in The Clorox Company (NYSE:CLX – Free Report) by 34.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,578,983 shares of the company’s stock after buying an additional 407,569 shares during the quarter. Clorox comprises 1.8% of Equity Investment Corp’s investment portfolio, making the stock its 18th largest holding. Equity Investment Corp’s holdings in Clorox were worth $127,913,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Clorox during the second quarter valued at approximately $958,640,000. Bank of America Corp DE acquired a new stake in Clorox in the second quarter valued at approximately $179,780,000. Beutel Goodman & Co Ltd. bought a new stake in Clorox in the third quarter worth approximately $163,038,000. Royal Bank of Canada grew its position in Clorox by 20.1% in the first quarter. Royal Bank of Canada now owns 1,418,204 shares of the company’s stock worth $146,969,000 after acquiring an additional 237,301 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Clorox by 6.3% during the 3rd quarter. ProShare Advisors LLC now owns 1,737,891 shares of the company’s stock worth $140,787,000 after purchasing an additional 102,732 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CLX shares. BNP Paribas Exane cut their price target on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. UBS Group set a $88.00 price objective on shares of Clorox in a research note on Tuesday, November 3rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $74.00 price objective on shares of Clorox in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $95.00 target price on shares of Clorox in a research report on Monday, October 19th. Finally, Citigroup cut their target price on Clorox from $97.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $93.79.

View Our Latest Report on Clorox

Clorox Stock Up 0.8%

CLX opened at $106.36 on Wednesday. The business has a 50 day moving average price of $87.93 and a 200 day moving average price of $99.61. The Clorox Company has a twelve month low of $79.12 and a twelve month high of $128.90. The company has a debt-to-equity ratio of 32.91, a quick ratio of 0.39 and a current ratio of 0.65. The firm has a market cap of $12.89 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 3.34 and a beta of 0.59.

Clorox (NYSE:CLX – Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.48. Clorox had a return on equity of 608.30% and a net margin of 9.41%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s revenue was up 33.3% on a year-over-year basis. Research analysts forecast that The Clorox Company will post 5.75 EPS for the current year.

Clorox Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, October 28th. Clorox’s payout ratio is presently 89.93%.

Insider Activity

In other news, Director Pierre Breber acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average cost of $100.06 per share, with a total value of $400,240.00. Following the acquisition, the director owned 22,000 shares in the company, valued at approximately $2,201,320. This represents a 22.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.51% of the company’s stock.

About Clorox

(Free Report)

The Clorox Company is a consumer products company founded in 1913 and headquartered in Oakland, California. It makes and markets products for household cleaning, food, water filtration, personal care and pet care. Its portfolio includes Clorox disinfecting and cleaning products, Glad trash bags and food-storage products, Kingsford charcoal, Brita water filters, Hidden Valley dressings and sauces, Burt’s Bees personal-care products, and Fresh Step cat litter. The company also sells products under brands such as Pine-Sol and Liquid-Plumr.

See Also

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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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