Bank of Nova Scotia Reduces Stake in The Clorox Company (NYSE:CLX)

Bank of Nova Scotia cut its holdings in The Clorox Company (NYSE:CLX - Free Report) by 84.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,789 shares of the company's stock after selling 67,527 shares during the quarter. Bank of Nova Scotia's holdings in Clorox were worth $1,883,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC acquired a new stake in shares of Clorox during the first quarter valued at about $247,000. Brown Miller Wealth Management LLC acquired a new stake in shares of Clorox during the first quarter valued at about $399,000. Roman Butler Fullerton & Co. acquired a new stake in shares of Clorox during the first quarter valued at about $400,000. Wedge Capital Management L L P NC boosted its stake 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 valued at $4,198,000 after purchasing an additional 7,159 shares in the last quarter. Finally, Cornerstone Wealth Group LLC boosted 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 valued at $3,767,000 after purchasing an additional 4,085 shares in the last quarter. 78.53% of the stock is owned by institutional investors and hedge funds.

Clorox Price Performance

Shares of Clorox stock traded down $1.19 during trading on Friday, hitting $124.89. 1,299,586 shares of the stock traded hands, compared to its average volume of 1,873,422. 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 stock has a market cap of $15.39 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.01 and a beta of 0.49. The firm's fifty day moving average is $125.51 and its 200-day moving average is $137.95. The Clorox Company has a 52 week low of $117.35 and a 52 week high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly 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 return on equity of 377.86% and a net margin of 11.40%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $1.82 EPS. Clorox's revenue for the quarter was up 4.5% compared to the same quarter last year. Research 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. Shareholders of record on Wednesday, August 13th will be issued a $1.24 dividend. This is an increase from Clorox's previous quarterly dividend of $1.22. The ex-dividend date is Wednesday, August 13th. This represents a $4.96 annualized dividend and a yield of 4.0%. Clorox's dividend payout ratio (DPR) is 74.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CLX shares. JPMorgan Chase & Co. cut their price objective on Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Barclays lowered their target price on Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a report on Tuesday, July 15th. Citigroup restated a "neutral" rating and set a $135.00 price objective (down previously from $140.00) on shares of Clorox in a report on Tuesday, July 15th. Jefferies Financial Group cut their target price on Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, Wells Fargo & Company lifted their target price on Clorox from $135.00 to $138.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $143.36.

About Clorox

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.