Tobam Reduces Stock Position in The Clorox Company (NYSE:CLX)

Tobam lowered its stake in shares of The Clorox Company (NYSE:CLX) by 27.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 79,077 shares of the company’s stock after selling 30,010 shares during the period. Clorox makes up approximately 2.4% of Tobam’s holdings, making the stock its 9th biggest position. Tobam owned approximately 0.06% of Clorox worth $12,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CLX. Vanguard Group Inc. increased its holdings in Clorox by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 15,277,580 shares of the company’s stock worth $2,339,150,000 after acquiring an additional 48,632 shares in the last quarter. Nuance Investments LLC increased its stake in Clorox by 150.6% in the second quarter. Nuance Investments LLC now owns 1,597,674 shares of the company’s stock worth $218,035,000 after purchasing an additional 960,094 shares during the period. Van ECK Associates Corp increased its stake in shares of Clorox by 1,715.5% during the second quarter. Van ECK Associates Corp now owns 1,461,207 shares of the company’s stock valued at $199,411,000 after buying an additional 1,380,724 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Clorox by 14.4% during the second quarter. Bank of New York Mellon Corp now owns 961,387 shares of the company’s stock valued at $131,200,000 after buying an additional 120,716 shares during the period. Finally, Parsifal Capital Management LP purchased a new position in Clorox in the fourth quarter valued at about $128,245,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Clorox Trading Down 0.9 %

Shares of NYSE CLX traded down $1.37 during mid-day trading on Thursday, reaching $158.16. 266,774 shares of the company’s stock were exchanged, compared to its average volume of 1,239,647. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 82.66, a PEG ratio of 3.31 and a beta of 0.41. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 1.03. The Clorox Company has a 52-week low of $114.68 and a 52-week high of $169.09. The company’s 50-day moving average is $156.55 and its 200-day moving average is $144.65.

Clorox (NYSE:CLX) last issued its earnings results on Thursday, August 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.28. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.97 billion. Clorox had a return on equity of 281.12% and a net margin of 3.95%. Analysts expect that The Clorox Company will post 6.63 EPS for the current fiscal year.

Clorox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 23rd will be paid a $1.22 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.88 annualized dividend and a dividend yield of 3.09%. Clorox’s dividend payout ratio (DPR) is currently 252.85%.

Insider Buying and Selling at Clorox

In related news, EVP Angela C. Hilt sold 1,733 shares of Clorox stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $165.52, for a total value of $286,846.16. Following the sale, the executive vice president now directly owns 13,471 shares in the company, valued at $2,229,719.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CLX. Wells Fargo & Company lowered their price target on Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. DA Davidson reissued a “neutral” rating and issued a $153.00 price target on shares of Clorox in a report on Friday, September 6th. Jefferies Financial Group upgraded Clorox from a “hold” rating to a “buy” rating and boosted their price objective for the company from $174.00 to $187.00 in a research report on Tuesday, October 1st. Citigroup boosted their price objective on Clorox from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Barclays increased their price objective on Clorox from $122.00 to $130.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $146.13.

About 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 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.