Pinnacle Associates Ltd. Increases Stake in Clorox Company (The) (CLX)

Pinnacle Associates Ltd. grew its position in Clorox Company (The) (NYSE:CLX) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,016 shares of the company’s stock after purchasing an additional 1,136 shares during the period. Pinnacle Associates Ltd.’s holdings in Clorox were worth $4,355,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in shares of Clorox by 3.8% in the second quarter. Parkside Financial Bank & Trust now owns 796 shares of the company’s stock valued at $107,000 after purchasing an additional 29 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Clorox by 0.6% in the second quarter. Valley National Advisers Inc. now owns 865 shares of the company’s stock valued at $115,000 after purchasing an additional 5 shares during the period. Blue Chip Partners Inc. increased its holdings in shares of Clorox by 3.9% in the second quarter. Blue Chip Partners Inc. now owns 941 shares of the company’s stock valued at $125,000 after purchasing an additional 35 shares during the period. Sun Life Financial INC increased its holdings in shares of Clorox by 10,344.4% in the second quarter. Sun Life Financial INC now owns 940 shares of the company’s stock valued at $125,000 after purchasing an additional 931 shares during the period. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Clorox in the second quarter worth about $133,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

CLX has been the topic of a number of recent research reports. Jefferies Group restated a “hold” rating and issued a $132.00 target price on shares of Clorox in a research note on Wednesday, November 1st. Zacks Investment Research downgraded Clorox from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Morgan Stanley lowered their target price on Clorox from $138.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $115.00 target price on shares of Clorox in a research note on Sunday, October 8th. Finally, BMO Capital Markets restated a “buy” rating and issued a $150.00 target price on shares of Clorox in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $128.72.

Shares of Clorox Company (NYSE:CLX) opened at $139.64 on Friday. Clorox Company has a one year low of $113.01 and a one year high of $141.76. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 3.02. The company has a market capitalization of $17,963.73, a PE ratio of 25.10, a PEG ratio of 3.80 and a beta of 0.42.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Clorox had a return on equity of 161.59% and a net margin of 11.84%. Clorox’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. research analysts expect that Clorox Company will post 5.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Wednesday, January 24th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $3.36 dividend on an annualized basis and a yield of 2.41%. Clorox’s dividend payout ratio is currently 61.88%.

In other Clorox news, SVP Matthew T. Laszlo sold 20,051 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $130.46, for a total transaction of $2,615,853.46. Following the transaction, the senior vice president now owns 10,896 shares in the company, valued at $1,421,492.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael R. Costello sold 10,574 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $136.01, for a total value of $1,438,169.74. Following the transaction, the senior vice president now owns 34,867 shares in the company, valued at approximately $4,742,260.67. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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About Clorox

The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.

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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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