Confluence Investment Management LLC Has $78.26 Million Holdings in The Clorox Company $CLX

Confluence Investment Management LLC trimmed its stake in The Clorox Company (NYSE:CLX) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 776,196 shares of the company’s stock after selling 154,897 shares during the period. Confluence Investment Management LLC owned about 0.64% of Clorox worth $78,264,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CLX. Invesco Ltd. increased its stake in Clorox by 138.3% during the second quarter. Invesco Ltd. now owns 3,245,175 shares of the company’s stock valued at $389,648,000 after acquiring an additional 1,883,465 shares during the period. Norges Bank acquired a new position in Clorox in the 2nd quarter valued at approximately $190,429,000. Van ECK Associates Corp increased its position in shares of Clorox by 93.9% during the third quarter. Van ECK Associates Corp now owns 2,709,972 shares of the company’s stock valued at $334,139,000 after purchasing an additional 1,312,471 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Clorox by 218.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,249,127 shares of the company’s stock valued at $149,983,000 after purchasing an additional 856,873 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Clorox in the second quarter valued at $71,856,000. Institutional investors own 78.53% of the company’s stock.

Clorox Trading Down 1.1%

Shares of CLX stock opened at $106.70 on Friday. The company has a market capitalization of $12.90 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.53 and a beta of 0.59. The Clorox Company has a 12-month low of $96.66 and a 12-month high of $150.84. The company has a quick ratio of 0.48, a current ratio of 0.74 and a debt-to-equity ratio of 71.03. The firm has a 50-day moving average price of $116.26 and a 200 day moving average price of $113.12.

Clorox (NYSE:CLX) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.04). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. Clorox had a return on equity of 383.01% and a net margin of 11.17%.Clorox’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 earnings per share. Research analysts forecast that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be given a dividend of $1.24 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $4.96 dividend on an annualized basis and a yield of 4.6%. Clorox’s dividend payout ratio is 81.05%.

Analyst Ratings Changes

CLX has been the subject of several research reports. Wall Street Zen raised Clorox from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Rothschild & Co Redburn set a $117.00 price objective on shares of Clorox in a research note on Friday, February 13th. Citigroup lifted their target price on shares of Clorox from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Weiss Ratings raised shares of Clorox from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Jefferies Financial Group lowered their price objective on Clorox from $152.00 to $151.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $118.73.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.