Van ECK Associates Corp Boosts Stock Position in The Clorox Company $CLX

Van ECK Associates Corp lifted its position in shares of The Clorox Company (NYSE:CLX) by 93.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,709,972 shares of the company’s stock after purchasing an additional 1,312,471 shares during the quarter. Van ECK Associates Corp’s holdings in Clorox were worth $334,139,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Center for Financial Planning Inc. bought a new position in Clorox during the third quarter valued at approximately $25,000. Total Investment Management Inc. bought a new stake in shares of Clorox in the 2nd quarter worth approximately $25,000. True Wealth Design LLC boosted its stake in shares of Clorox by 1,020.0% in the 3rd quarter. True Wealth Design LLC now owns 224 shares of the company’s stock valued at $28,000 after purchasing an additional 204 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Clorox during the 3rd quarter valued at $29,000. Finally, Bank & Trust Co purchased a new position in Clorox in the 3rd quarter worth $30,000. Institutional investors own 78.53% of the company’s stock.

Clorox Price Performance

CLX opened at $113.54 on Tuesday. The stock’s 50 day moving average price is $114.77 and its 200-day moving average price is $113.49. The Clorox Company has a 52-week low of $96.66 and a 52-week high of $153.90. The stock has a market capitalization of $13.73 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.56 and a beta of 0.59. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74.

Clorox (NYSE:CLX) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.04). The company had revenue of $1.67 billion for 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 firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 earnings per share. On average, equities research analysts predict that The Clorox Company will post 7.15 EPS for the current year.

Clorox Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, April 22nd. Clorox’s dividend payout ratio is presently 81.05%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CLX shares. Barclays reaffirmed an “underweight” rating and set a $109.00 price objective on shares of Clorox in a research note on Friday, January 16th. UBS Group increased their target price on Clorox from $115.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Rothschild & Co Redburn set a $117.00 price target on Clorox in a research report on Friday, February 13th. Evercore lowered their price objective on Clorox from $132.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of Clorox from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Clorox currently has a consensus rating of “Reduce” and a consensus price target 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.