Van ECK Associates Corp Raises Position in The Clorox Company $CLX

Van ECK Associates Corp lifted its position in shares of The Clorox Company (NYSE:CLX) by 93.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,709,972 shares of the company’s stock after acquiring an additional 1,312,471 shares during the quarter. Van ECK Associates Corp owned approximately 2.22% of Clorox worth $334,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Clorox by 14.4% in the third quarter. Bank of Montreal Can now owns 177,839 shares of the company’s stock valued at $21,928,000 after purchasing an additional 22,367 shares during the period. Legal & General Group Plc boosted its holdings in Clorox by 2.6% in the 3rd quarter. Legal & General Group Plc now owns 1,034,295 shares of the company’s stock worth $127,529,000 after buying an additional 26,381 shares during the period. Banque Cantonale Vaudoise grew its stake in Clorox by 12.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 12,339 shares of the company’s stock valued at $1,521,000 after buying an additional 1,387 shares in the last quarter. Schroder Investment Management Group grew its stake in Clorox by 12.5% in the 3rd quarter. Schroder Investment Management Group now owns 8,043 shares of the company’s stock valued at $989,000 after buying an additional 891 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Clorox during the 3rd quarter valued at $2,170,000. 78.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CLX shares. JPMorgan Chase & Co. increased their target price on Clorox from $114.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Barclays reiterated an “underweight” rating and set a $109.00 price objective on shares of Clorox in a research note on Friday, January 16th. Jefferies Financial Group reduced their target price on Clorox from $152.00 to $151.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. UBS Group increased their price target on shares of Clorox from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, Evercore reduced their price objective on shares of Clorox from $132.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $118.73.

Clorox Price Performance

Clorox stock opened at $113.54 on Tuesday. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.56 and a beta of 0.59. 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 business has a 50-day simple moving average of $114.77 and a 200 day simple moving average of $113.49. The Clorox Company has a 52 week low of $96.66 and a 52 week high of $153.90.

Clorox (NYSE:CLX) last released its quarterly earnings results 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 business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Clorox had a net margin of 11.17% and a return on equity of 383.01%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. On average, research analysts forecast that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, April 22nd. Clorox’s dividend payout ratio (DPR) is currently 81.05%.

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.