The Clorox Company (NYSE:CLX) Shares Bought by AlphaCore Capital LLC

Key Points

• AlphaCore Capital LLC increased its holdings in The Clorox Company by 65.9%, purchasing 2,817 additional shares in Q1, bringing its total ownership to 7,093 shares valued at approximately $1,044,000.
• The company recently declared a quarterly dividend of $1.24 per share, up from the previous $1.22, representing an annualized dividend of $4.96 and a yield of 4.0%.
• Clorox reported quarterly earnings of $2.87 per share, exceeding estimates by $0.63, with a revenue of $1.99 billion which showed a 4.5% year-over-year increase.

AlphaCore Capital LLC increased its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 65.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,093 shares of the company's stock after buying an additional 2,817 shares during the quarter. AlphaCore Capital LLC's holdings in Clorox were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC acquired a new position in shares of Clorox during the first quarter valued at about $247,000. Brown Miller Wealth Management LLC purchased a new stake in Clorox during the 1st quarter worth approximately $399,000. Roman Butler Fullerton & Co. acquired a new position in Clorox during the 1st quarter valued at approximately $400,000. Wedge Capital Management L L P NC raised its holdings in shares of Clorox by 33.5% in 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 buying an additional 7,159 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its stake 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 buying an additional 4,085 shares during the period. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CLX shares. Barclays lowered their price target on Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a research report on Tuesday, July 15th. Jefferies Financial Group decreased their target price on Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, June 26th. UBS Group cut their price target on shares of Clorox from $150.00 to $134.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Wells Fargo & Company raised their price target on shares of Clorox from $135.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Citigroup reaffirmed a "neutral" rating and issued a $135.00 price objective (down from $140.00) on shares of Clorox in a report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $143.36.

Clorox Price Performance

Shares of CLX traded down $1.19 during trading hours on Friday, hitting $124.89. 1,299,586 shares of the stock were exchanged, compared to its average volume of 1,869,570. The stock's 50-day moving average price is $125.51 and its two-hundred day moving average price is $137.64. The Clorox Company has a 12-month low of $117.35 and a 12-month high of $171.37. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.84. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.00 and a beta of 0.49.

Clorox (NYSE:CLX - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.87 earnings per share (EPS) 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 company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. Research analysts expect that The Clorox Company will post 7.15 earnings per share for the current year.

Clorox Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from Clorox's previous quarterly dividend of $1.22. Clorox's dividend payout ratio is presently 74.85%.

Clorox 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.