SVB Wealth LLC Decreases Position in The Clorox Company (NYSE:CLX)

SVB Wealth LLC decreased its holdings in shares of The Clorox Company (NYSE:CLX) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,643 shares of the company’s stock after selling 358 shares during the quarter. SVB Wealth LLC’s holdings in Clorox were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLX. Fortitude Family Office LLC purchased a new stake in Clorox in the fourth quarter valued at approximately $29,000. Tyler Stone Wealth Management lifted its stake in Clorox by 64.5% in the third quarter. Tyler Stone Wealth Management now owns 255 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Hartford Financial Management Inc. lifted its stake in Clorox by 57.1% in the fourth quarter. Hartford Financial Management Inc. now owns 256 shares of the company’s stock valued at $37,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Clorox by 458.3% in the fourth quarter. Valley National Advisers Inc. now owns 268 shares of the company’s stock valued at $38,000 after buying an additional 220 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Clorox in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Clorox Trading Up 1.1 %

Shares of CLX stock opened at $145.19 on Tuesday. The business’s fifty day moving average price is $149.82 and its 200 day moving average price is $142.09. The Clorox Company has a 1-year low of $114.68 and a 1-year high of $178.21. The firm has a market capitalization of $18.02 billion, a PE ratio of 230.46, a P/E/G ratio of 2.27 and a beta of 0.43. The company has a debt-to-equity ratio of 11.37, a current ratio of 0.89 and a quick ratio of 0.57.

Clorox (NYSE:CLX) last posted its earnings results on Thursday, February 1st. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $1.08. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.80 billion. Clorox had a return on equity of 319.41% and a net margin of 1.09%. Clorox’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, sell-side analysts forecast that The Clorox Company will post 5.52 EPS for the current fiscal year.

Clorox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, April 24th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 3.31%. Clorox’s payout ratio is 761.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CLX shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Clorox from $155.00 to $151.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. DA Davidson reissued a “neutral” rating and issued a $162.00 target price on shares of Clorox in a report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on Clorox in a report on Friday, March 1st. They issued a “sell” rating and a $140.00 target price on the stock. Citigroup dropped their target price on Clorox from $165.00 to $155.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Finally, UBS Group boosted their target price on Clorox from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $148.63.

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.