Cibc World Market Inc. lessened its stake in shares of The Clorox Company (NYSE:CLX – Get Rating) by 33.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,160 shares of the company’s stock after selling 3,158 shares during the period. Cibc World Market Inc.’s holdings in Clorox were worth $868,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Clorox by 9.9% during the second quarter. Principal Financial Group Inc. now owns 176,609 shares of the company’s stock valued at $24,898,000 after purchasing an additional 15,862 shares during the last quarter. Legacy CG LLC acquired a new position in Clorox during the second quarter valued at approximately $51,000. Cerity Partners LLC grew its holdings in Clorox by 187.2% during the second quarter. Cerity Partners LLC now owns 7,362 shares of the company’s stock valued at $1,038,000 after purchasing an additional 4,799 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Clorox during the second quarter valued at approximately $2,696,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Clorox by 36.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 252,032 shares of the company’s stock valued at $35,532,000 after purchasing an additional 67,074 shares during the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. DA Davidson increased their price target on Clorox from $124.00 to $155.00 and gave the company a “neutral” rating in a report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Clorox from $138.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, November 2nd. Morgan Stanley lifted their price target on shares of Clorox from $130.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 2nd. Barclays lifted their price objective on Clorox from $93.00 to $101.00 and gave the company an “underweight” rating in a report on Friday, August 19th. Finally, Evercore ISI initiated coverage on Clorox in a report on Monday, October 17th. They set an “underperform” rating for the company. Ten analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Clorox currently has an average rating of “Reduce” and a consensus target price of $135.08.
Clorox Price Performance
Clorox Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Wednesday, January 25th will be paid a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, January 24th. Clorox’s payout ratio is 144.79%.
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.
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