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

Palisade Asset Management LLC trimmed its position in shares of The Clorox Company (NYSE:CLX) by 5.8% in the 4th quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLX. Fortitude Family Office LLC acquired a new position in shares of Clorox in the fourth quarter worth about $29,000. Tyler Stone Wealth Management increased its holdings in shares of Clorox by 64.5% during the 3rd quarter. Tyler Stone Wealth Management now owns 255 shares of the company’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Clorox by 57.1% during the fourth quarter. Hartford Financial Management Inc. now owns 256 shares of the company’s stock valued at $37,000 after acquiring an additional 93 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Clorox by 458.3% during the 4th quarter. Valley National Advisers Inc. now owns 268 shares of the company’s stock worth $38,000 after acquiring an additional 220 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Clorox during the fourth quarter worth $38,000. 78.53% of the stock is owned by institutional investors.

Clorox Trading Down 0.5 %

Shares of NYSE CLX traded down $0.75 during midday trading on Wednesday, hitting $140.42. The stock had a trading volume of 1,166,276 shares, compared to its average volume of 1,265,831. The Clorox Company has a fifty-two week low of $114.68 and a fifty-two week high of $170.43. 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 firm has a market cap of $17.44 billion, a P/E ratio of 73.15, a price-to-earnings-growth ratio of 2.13 and a beta of 0.44. The company’s 50-day simple moving average is $148.00 and its 200 day simple moving average is $143.67.

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

Clorox Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Clorox from $159.00 to $158.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $160.00 price objective on shares of Clorox in a research report on Tuesday, March 26th. UBS Group cut their price target on Clorox from $164.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Clorox from $155.00 to $151.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company cut their price target on shares of Clorox from $140.00 to $135.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Four analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $146.43.

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.