17,455 The Clorox Company $CLX Shares Acquired by Canvas Wealth Advisors LLC

Key Points

• Canvas Wealth Advisors increased its Clorox position 18.6%, buying 17,455 shares in the third quarter to hold 111,481 shares worth about $9.9 million. Institutional investors own 78.53% of the stock.
• Clorox reported quarterly EPS of $1.55, beating estimates of $1.07, while revenue rose 33.3% year over year to $1.91 billion. The company declared a quarterly dividend of $1.25 per share, equivalent to a 5.0% annual yield.
• Analyst sentiment is cautious: the consensus rating is “Reduce,” with a $93.79 average price target. CLX was recently trading at $99.80; one director also bought 4,000 shares at an average price of $100.06.

Canvas Wealth Advisors LLC grew its position in shares of The Clorox Company (NYSE:CLX - Free Report) by 18.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,481 shares of the company's stock after purchasing an additional 17,455 shares during the quarter. Clorox comprises approximately 1.2% of Canvas Wealth Advisors LLC's investment portfolio, making the stock its 19th largest position. Canvas Wealth Advisors LLC owned approximately 0.09% of Clorox worth $9,885,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CLX. BlackRock Inc. acquired a new position in Clorox in the second quarter valued at $958,640,000. Bank of America Corp DE bought a new stake in Clorox during the second quarter valued at $179,780,000. Royal Bank of Canada grew its holdings in Clorox by 20.1% during the 1st quarter. Royal Bank of Canada now owns 1,418,204 shares of the company's stock worth $146,969,000 after acquiring an additional 237,301 shares during the period. ProShare Advisors LLC grew its holdings in Clorox by 6.3% during the 3rd quarter. ProShare Advisors LLC now owns 1,737,891 shares of the company's stock worth $140,787,000 after acquiring an additional 102,732 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Clorox by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,280,226 shares of the company's stock worth $132,670,000 after acquiring an additional 29,181 shares in the last quarter. 78.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CLX shares. Morgan Stanley boosted their price objective on Clorox from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Wednesday. Jefferies Financial Group cut Clorox from a "buy" rating to a "hold" rating and decreased their target price for the stock from $125.00 to $98.00 in a research note on Tuesday, July 28th. The Goldman Sachs Group reiterated a "sell" rating and issued a $74.00 target price on shares of Clorox in a report on Tuesday. Zacks Research lowered Clorox from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 29th. Finally, Barclays cut their price target on Clorox from $84.00 to $80.00 and set an "underweight" rating on the stock in a report on Friday, October 16th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Clorox has an average rating of "Reduce" and a consensus target price of $93.79.

Clorox Stock Up 0.1%

Clorox stock traded up $0.10 during mid-day trading on Friday, reaching $99.80. The stock had a trading volume of 2,387,525 shares, compared to its average volume of 2,530,187. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The Clorox Company has a fifty-two week low of $79.12 and a fifty-two week high of $128.90. The stock's 50-day simple moving average is $87.71 and its 200-day simple moving average is $99.67. The firm has a market capitalization of $12.07 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.48. Clorox had a return on equity of 601.88% and a net margin of 9.41%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Clorox's revenue for the quarter was up 33.3% on a year-over-year basis. On average, sell-side analysts forecast that The Clorox Company will post 5.76 EPS for the current fiscal year.

Clorox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 28th. Clorox's dividend payout ratio (DPR) is currently 89.93%.

Insider Activity

In other Clorox news, Director Pierre Breber bought 4,000 shares of the firm's stock in a transaction dated Wednesday, November 4th. The stock was bought at an average cost of $100.06 per share, with a total value of $400,240.00. Following the completion of the transaction, the director directly owned 22,000 shares in the company, valued at approximately $2,201,320. The trade was a 22.22% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.51% of the stock is owned by corporate insiders.

About Clorox

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt's Bees personal care items.

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