Virtu Financial LLC Makes New Investment in The Clorox Company (NYSE:CLX)

Key Points

• Virtu Financial LLC acquired 8,058 shares of The Clorox Company (NYSE:CLX), valued at approximately $1.19 million, during the first quarter, adding to the growing interest from institutional investors.
• The company recently announced a quarterly dividend of $1.24 per share, increasing its yield to 4.1%, which reflects a rise from the previous dividend of $1.22.
• Despite a strong earnings report showing $2.87 earnings per share, analysts have adjusted their price targets downwards, with Barclays setting a new target of $119, indicating waning confidence in the stock.

Virtu Financial LLC bought a new stake in shares of The Clorox Company (NYSE:CLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,058 shares of the company's stock, valued at approximately $1,187,000.

Several other large investors also recently modified their holdings of CLX. OneDigital Investment Advisors LLC bought a new position in shares of Clorox during the first quarter worth about $247,000. Brown Miller Wealth Management LLC bought a new position in shares of Clorox during the first quarter worth about $399,000. Roman Butler Fullerton & Co. bought a new position in shares of Clorox during the first quarter worth about $400,000. Wedge Capital Management L L P NC lifted its position in shares of Clorox by 33.5% during the first quarter. Wedge Capital Management L L P NC now owns 28,510 shares of the company's stock worth $4,198,000 after purchasing an additional 7,159 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its position in shares of Clorox by 19.0% during the first quarter. Cornerstone Wealth Group LLC now owns 25,582 shares of the company's stock worth $3,767,000 after purchasing an additional 4,085 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CLX. JPMorgan Chase & Co. dropped their price objective on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Morgan Stanley dropped their price objective on shares of Clorox from $150.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. UBS Group dropped their price objective on shares of Clorox from $150.00 to $134.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Jefferies Financial Group dropped their price objective on shares of Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Citigroup reiterated a "neutral" rating and set a $135.00 price objective (down previously from $140.00) on shares of Clorox in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $143.36.

Clorox Price Performance

NYSE:CLX traded up $0.54 during trading hours on Friday, reaching $122.12. 686,696 shares of the company's stock were exchanged, compared to its average volume of 1,634,030. The business's 50-day simple moving average is $124.95 and its two-hundred day simple moving average is $136.90. The Clorox Company has a 12 month low of $117.35 and a 12 month high of $171.37. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 5.15. The company has a market capitalization of $14.94 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 0.98 and a beta of 0.49.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.63. Clorox had a net margin of 11.40% and a return on equity of 377.86%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company posted $1.82 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a boost from Clorox's previous quarterly dividend of $1.22. Clorox's dividend payout ratio (DPR) is presently 76.07%.

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.