Raymond James & Associates Sells 124,821 Shares of The Clorox Company (NYSE:CLX)

Raymond James & Associates reduced its stake in The Clorox Company (NYSE:CLX) by 46.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,811 shares of the company’s stock after selling 124,821 shares during the period. Raymond James & Associates’ holdings in Clorox were worth $23,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Slow Capital Inc. increased its holdings in shares of Clorox by 0.6% during the third quarter. Slow Capital Inc. now owns 18,320 shares of the company’s stock worth $2,984,000 after buying an additional 105 shares in the last quarter. Friedenthal Financial acquired a new position in Clorox in the 3rd quarter worth about $49,000. Blue Trust Inc. boosted its stake in shares of Clorox by 34.7% during the third quarter. Blue Trust Inc. now owns 913 shares of the company’s stock valued at $149,000 after purchasing an additional 235 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in shares of Clorox by 13.9% during the third quarter. Precedent Wealth Partners LLC now owns 7,736 shares of the company’s stock worth $1,260,000 after purchasing an additional 942 shares during the last quarter. Finally, OmniStar Financial Group Inc. acquired a new position in shares of Clorox in the third quarter valued at approximately $824,000. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Clorox Stock Performance

Shares of CLX stock opened at $158.92 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 5.04. The Clorox Company has a 52 week low of $114.68 and a 52 week high of $169.09. The firm has a 50 day moving average of $160.25 and a 200-day moving average of $145.43. The company has a market cap of $19.74 billion, a price-to-earnings ratio of 82.34, a price-to-earnings-growth ratio of 3.19 and a beta of 0.41.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.28. Clorox had a net margin of 3.95% and a return on equity of 281.12%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, equities analysts forecast that The Clorox Company will post 6.64 earnings per share for the current year.

Clorox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, October 23rd. Clorox’s dividend payout ratio (DPR) is currently 252.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CLX shares. DA Davidson reissued a “neutral” rating and set a $153.00 target price on shares of Clorox in a report on Friday, September 6th. Wells Fargo & Company decreased their price objective on Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. TD Cowen began coverage on Clorox in a research report on Tuesday, July 23rd. They set a “sell” rating and a $122.00 target price for the company. Evercore ISI reduced their price target on Clorox from $140.00 to $139.00 and set an “underperform” rating on the stock in a research report on Monday, October 14th. Finally, Citigroup raised their price objective on Clorox from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Clorox has an average rating of “Hold” and an average target price of $150.14.

Insiders Place Their Bets

In other news, EVP Angela C. Hilt sold 1,733 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $165.52, for a total transaction of $286,846.16. Following the completion of the sale, the executive vice president now owns 13,471 shares in the company, valued at $2,229,719.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

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.