407,569 The Clorox Company $CLX Shares Acquired by Equity Investment Corp

Key Points

• Equity Investment Corp increased its Clorox stake by 34.8%, adding 407,569 shares in the third quarter to hold 1,578,983 shares, valued at about $127.9 million.
• Analyst sentiment was cautious: MarketBeat reported a consensus “Reduce” rating and a $93.79 price target, with 1 Buy, 11 Hold, and 4 Sell ratings.
• Clorox reported quarterly EPS of $1.55, beating the $1.07 estimate, while revenue rose 33.3% year over year to $1.91 billion. The company declared a $1.25 quarterly dividend, equivalent to a 4.7% yield at the article’s stated share price.

Equity Investment Corp lifted its position in The Clorox Company (NYSE:CLX - Free Report) by 34.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,578,983 shares of the company's stock after acquiring an additional 407,569 shares during the period. Clorox comprises approximately 1.8% of Equity Investment Corp's holdings, making the stock its 18th largest position. Equity Investment Corp owned approximately 1.31% of Clorox worth $127,913,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Pension & Wealth Management Advisors Inc. acquired a new position in Clorox in the 3rd quarter worth approximately $26,000. Ancora Advisors LLC purchased a new position in Clorox during the 2nd quarter worth approximately $28,000. Avalon Trust Co purchased a new position in Clorox during the 2nd quarter worth approximately $29,000. Markowski Investments acquired a new stake in Clorox during the 2nd quarter valued at $30,000. Finally, Barrett & Company Inc. raised its stake in Clorox by 86.0% during the 3rd quarter. Barrett & Company Inc. now owns 372 shares of the company's stock valued at $30,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 78.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CLX shares. The Goldman Sachs Group restated a "sell" rating and issued a $74.00 target price on shares of Clorox in a report on Tuesday, November 3rd. Barclays lowered 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. JPMorgan Chase & Co. lifted their price target on Clorox from $83.00 to $86.00 and gave the company an "underweight" rating in a report on Tuesday, November 3rd. Wall Street Zen raised Clorox from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Clorox in a research note on Tuesday, November 3rd. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $93.79.

Insider Activity at Clorox

In related news, Director Pierre Breber purchased 4,000 shares of the stock in a transaction dated Wednesday, November 4th. The shares were acquired at an average cost of $100.06 per share, for a total transaction of $400,240.00. Following the acquisition, 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 the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Clorox Stock Performance

Shares of CLX opened at $106.36 on Wednesday. The company's 50 day moving average price is $87.93 and its 200 day moving average price is $99.61. The Clorox Company has a 52 week low of $79.12 and a 52 week high of $128.90. The company has a market capitalization of $12.89 billion, a PE ratio of 19.13, a PEG ratio of 3.34 and a beta of 0.59. The company has a debt-to-equity ratio of 32.91, a quick ratio of 0.39 and a current ratio of 0.65.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.48. Clorox had a net margin of 9.41% and a return on equity of 608.30%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The company's revenue for the quarter was up 33.3% compared to the same quarter last year. Research analysts expect that The Clorox Company will post 5.75 EPS for the current fiscal year.

Clorox Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, October 28th. Clorox's payout ratio is currently 89.93%.

Clorox Profile

The Clorox Company is a consumer products company founded in 1913 and headquartered in Oakland, California. It makes and markets products for household cleaning, food, water filtration, personal care and pet care. Its portfolio includes Clorox disinfecting and cleaning products, Glad trash bags and food-storage products, Kingsford charcoal, Brita water filters, Hidden Valley dressings and sauces, Burt's Bees personal-care products, and Fresh Step cat litter. The company also sells products under brands such as Pine-Sol and Liquid-Plumr.

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