First National Bank of Mount Dora Trust Investment Services lowered its holdings in shares of The Clorox Company (NYSE:CLX) by 50.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,762 shares of the company’s stock after selling 5,961 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in The Clorox were worth $1,112,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new position in The Clorox in the 4th quarter worth $25,000. McCarthy Asset Management Inc. acquired a new stake in The Clorox in the fourth quarter valued at $38,000. Fort Pitt Capital Group LLC bought a new position in shares of The Clorox in the 4th quarter valued at about $40,000. Advisory Alpha LLC bought a new stake in shares of The Clorox in the 3rd quarter valued at about $46,000. Finally, Oder Investment Management LLC bought a new position in shares of The Clorox during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 81.73% of the company’s stock.
CLX has been the subject of a number of recent research reports. Atlantic Securities raised shares of The Clorox from a “neutral” rating to an “overweight” rating and set a $233.00 target price for the company in a research report on Thursday, February 25th. DA Davidson restated a “neutral” rating and set a $189.00 target price on shares of The Clorox in a research report on Wednesday, March 24th. Bank of America reduced their price target on The Clorox from $245.00 to $235.00 and set a “neutral” rating on the stock in a research report on Friday, January 22nd. Smith Barney Citigroup upgraded shares of The Clorox from a “neutral” rating to a “buy” rating and boosted their target price for the company from $238.00 to $249.00 in a research report on Monday, December 14th. Finally, Morgan Stanley reduced their target price on The Clorox from $190.00 to $182.00 and set an “underweight” rating on the stock in a report on Thursday, January 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The Clorox has an average rating of “Hold” and a consensus target price of $216.65.
The Clorox (NYSE:CLX) last released its quarterly earnings results on Wednesday, February 3rd. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.25. The Clorox had a net margin of 16.14% and a return on equity of 132.72%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the business earned $1.46 EPS. The business’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, equities analysts anticipate that The Clorox Company will post 8.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Wednesday, April 21st will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, April 20th. The Clorox’s payout ratio is 60.33%.
In other The Clorox news, COO Eric H. Reynolds sold 3,147 shares of The Clorox stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $214.07, for a total transaction of $673,678.29. Following the transaction, the chief operating officer now directly owns 16,997 shares of the company’s stock, valued at $3,638,547.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin B. Jacobsen sold 35,176 shares of the company’s stock in a transaction on Monday, January 25th. The shares were sold at an average price of $215.00, for a total transaction of $7,562,840.00. Following the completion of the sale, the chief financial officer now directly owns 26,491 shares of the company’s stock, valued at approximately $5,695,565. The disclosure for this sale can be found here. 1.09% of the stock is currently owned by corporate insiders.
About The Clorox
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, 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, Scentiva, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; professional cleaning, disinfecting, and food service products under the CloroxPro, Clorox Healthcare, and Clorox Total 360 brands; professional food service products under the Hidden Valley brand; and vitamins, minerals, and supplement products under the RenewLife, Rainbow Light, Natural Vitality, NeoCell, and Stop Aging Now brands.
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