W.H. Cornerstone Investments Inc. Reduces Stake in The Clorox Company (NYSE:CLX)

W.H. Cornerstone Investments Inc. trimmed its position in shares of The Clorox Company (NYSE:CLX) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,542 shares of the company’s stock after selling 117 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Clorox were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in Clorox during the 2nd quarter valued at about $30,000. Trifecta Capital Advisors LLC increased its stake in shares of Clorox by 139.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares in the last quarter. First Foundation Advisors acquired a new position in shares of Clorox during the 1st quarter worth approximately $31,000. Family Firm Inc. purchased a new stake in Clorox in the 2nd quarter valued at approximately $31,000. Finally, Quarry LP grew its holdings in Clorox by 99.1% during the 2nd quarter. Quarry LP now owns 229 shares of the company’s stock valued at $31,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CLX shares. TD Cowen started coverage on Clorox in a research report on Tuesday, July 23rd. They issued a “sell” rating and a $122.00 price objective on the stock. Barclays lifted their price target on shares of Clorox from $137.00 to $139.00 and gave the stock an “underweight” rating in a report on Friday. Wells Fargo & Company decreased their target price on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group upgraded Clorox from a “hold” rating to a “buy” rating and boosted their price target for the company from $174.00 to $187.00 in a report on Tuesday, October 1st. Finally, BNP Paribas upgraded Clorox to a “strong sell” rating in a report on Friday, September 6th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $151.57.

Clorox Stock Performance

NYSE CLX opened at $162.48 on Tuesday. The company has a debt-to-equity ratio of 11.08, a current ratio of 1.00 and a quick ratio of 0.62. The Clorox Company has a 1-year low of $125.46 and a 1-year high of $169.09. The firm has a market capitalization of $20.11 billion, a P/E ratio of 56.61, a P/E/G ratio of 3.11 and a beta of 0.41. The business’s 50-day simple moving average is $161.63 and its 200-day simple moving average is $146.33.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.50. Clorox had a net margin of 4.78% and a return on equity of 316.08%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company posted $0.49 earnings per share. Clorox’s revenue was up 27.0% compared to the same quarter last year. Equities analysts predict that The Clorox Company will post 6.81 EPS for the current year.

Clorox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 23rd will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, October 23rd. Clorox’s dividend payout ratio (DPR) is presently 170.03%.

Insider Buying and Selling at Clorox

In other news, EVP Angela C. Hilt sold 1,733 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $165.52, for a total value of $286,846.16. Following the completion of the sale, the executive vice president now owns 13,471 shares in the company, valued at approximately $2,229,719.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by corporate insiders.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.