Palisade Asset Management LLC Sells 590 Shares of The Clorox Company (NYSE:CLX)

Palisade Asset Management LLC cut its holdings in The Clorox Company (NYSE:CLX) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,560 shares of the company’s stock after selling 590 shares during the quarter. Palisade Asset Management LLC’s holdings in Clorox were worth $1,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLX. Choreo LLC increased its stake in shares of Clorox by 12.8% in the fourth quarter. Choreo LLC now owns 5,741 shares of the company’s stock worth $819,000 after purchasing an additional 652 shares in the last quarter. abrdn plc increased its position in shares of Clorox by 20.1% in the fourth quarter. abrdn plc now owns 198,250 shares of the company’s stock worth $28,268,000 after purchasing an additional 33,135 shares during the last quarter. International Assets Investment Management LLC lifted its position in Clorox by 17,658.5% during the fourth quarter. International Assets Investment Management LLC now owns 484,453 shares of the company’s stock valued at $69,078,000 after purchasing an additional 481,725 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Clorox during the 3rd quarter worth $6,605,000. Finally, Eagle Rock Investment Company LLC bought a new position in Clorox in the fourth quarter valued at $2,940,000. 78.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CLX shares. The Goldman Sachs Group assumed coverage on shares of Clorox in a research note on Friday, March 1st. They issued a “sell” rating and a $140.00 target price on the stock. Jefferies Financial Group raised Clorox from an “underperform” rating to a “hold” rating and set a $145.00 price objective for the company in a report on Tuesday, March 26th. Barclays lowered their price target on shares of Clorox from $136.00 to $132.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Citigroup lowered their price target on Clorox from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their target price on Clorox from $159.00 to $158.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $146.43.

Clorox Price Performance

Clorox stock traded down $0.75 during midday trading on Wednesday, reaching $140.42. The company had a trading volume of 1,166,276 shares, compared to its average volume of 1,265,831. The firm’s fifty day simple moving average is $148.00 and its 200-day simple moving average is $143.67. The company has a debt-to-equity ratio of 9.73, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market capitalization of $17.44 billion, a P/E ratio of 73.15, a P/E/G ratio of 2.13 and a beta of 0.44. The Clorox Company has a 12-month low of $114.68 and a 12-month high of $170.43.

Clorox (NYSE:CLX) last issued its earnings results on Tuesday, April 30th. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.38. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 EPS. As a group, equities analysts anticipate that The Clorox Company will post 5.83 EPS for the current year.

Clorox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, April 24th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 3.42%. Clorox’s dividend payout ratio (DPR) is presently 248.71%.

Clorox 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.