Courier Capital LLC Sells 1,001 Shares of Clorox Co (CLX)
Courier Capital LLC trimmed its stake in shares of Clorox Co (NYSE:CLX) by 16.6% during the 3rd quarter, Holdings Channel reports. The fund owned 5,020 shares of the company’s stock after selling 1,001 shares during the quarter. Courier Capital LLC’s holdings in Clorox were worth $755,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new position in Clorox during the 2nd quarter worth approximately $105,000. Ostrum Asset Management bought a new position in Clorox during the 1st quarter worth approximately $112,000. Fort L.P. bought a new position in Clorox during the 2nd quarter worth approximately $129,000. Whittier Trust Co. of Nevada Inc. grew its position in Clorox by 1,297.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,621 shares of the company’s stock worth $148,000 after acquiring an additional 1,505 shares during the last quarter. Finally, IMS Capital Management bought a new position in Clorox during the 2nd quarter worth approximately $161,000. Institutional investors and hedge funds own 78.36% of the company’s stock.
Several equities analysts recently issued reports on CLX shares. Atlantic Securities started coverage on Clorox in a research report on Thursday, September 20th. They set a “neutral” rating and a $151.00 price target on the stock. Goldman Sachs Group lowered Clorox from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $127.00 to $112.00 in a research report on Tuesday, July 17th. They noted that the move was a valuation call. Bank of America raised their price target on Clorox from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Argus upgraded Clorox from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Tuesday, September 25th. Finally, Zacks Investment Research lowered Clorox from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $137.21.
Clorox (NYSE:CLX) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.08. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.72 billion. Clorox had a return on equity of 103.18% and a net margin of 13.44%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.53 EPS. Research analysts forecast that Clorox Co will post 6.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Wednesday, October 31st will be given a $0.96 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.65%. Clorox’s dividend payout ratio is currently 61.34%.
In other news, EVP Laura Stein sold 12,880 shares of Clorox stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $144.10, for a total value of $1,856,008.00. Following the sale, the executive vice president now directly owns 74,483 shares in the company, valued at approximately $10,733,000.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Linda J. Rendle sold 382 shares of Clorox stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $148.32, for a total value of $56,658.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,268 shares of company stock worth $4,196,686. Corporate insiders own 1.00% of the company’s stock.
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, 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, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.
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