Banque Cantonale Vaudoise Buys New Position in The Clorox Company (NYSE:CLX)

Key Points

• Banque Cantonale Vaudoise acquired a new position in The Clorox Company, purchasing 15,746 shares valued at approximately $2.32 million in the first quarter.
• The company's latest earnings report revealed an EPS of $1.45, which was below analyst estimates, with revenues declining by 8% year-over-year, totaling $1.67 billion.
• Multiple brokerages have lowered their price targets for Clorox, with an average price target now set at $144.83 and a consensus rating of "Hold."

Banque Cantonale Vaudoise acquired a new stake in The Clorox Company (NYSE:CLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,746 shares of the company's stock, valued at approximately $2,319,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CLX. Redwood Park Advisors LLC purchased a new stake in shares of Clorox in the 4th quarter valued at $26,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Clorox in the 4th quarter valued at $31,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Clorox in the 4th quarter valued at $32,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Clorox in the 4th quarter valued at $33,000. Finally, GW&K Investment Management LLC raised its holdings in shares of Clorox by 239.1% in the 1st quarter. GW&K Investment Management LLC now owns 295 shares of the company's stock valued at $43,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 78.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays cut their price target on Clorox from $129.00 to $119.00 and set an "underweight" rating on the stock in a report on Tuesday, July 15th. Jefferies Financial Group cut their price target on Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Citigroup restated a "neutral" rating and set a $135.00 price target (down previously from $140.00) on shares of Clorox in a report on Tuesday, July 15th. Wells Fargo & Company upped their price target on Clorox from $135.00 to $138.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, JPMorgan Chase & Co. cut their price target on Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. 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 stock. Based on data from MarketBeat, Clorox has an average rating of "Hold" and a consensus price target of $143.36.

Clorox Stock Down 2.0%

Shares of NYSE:CLX traded down $2.50 on Friday, hitting $123.06. 3,928,421 shares of the company's stock were exchanged, compared to its average volume of 1,666,065. The firm's 50-day moving average is $126.07 and its 200 day moving average is $139.01. The company has a market capitalization of $15.17 billion, a PE ratio of 18.87, a P/E/G ratio of 3.46 and a beta of 0.49. The Clorox Company has a 1-year low of $117.35 and a 1-year high of $171.37. The company has a debt-to-equity ratio of 13.07, a quick ratio of 0.44 and a current ratio of 0.74.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.94 billion. Clorox had a return on equity of 538.72% and a net margin of 11.40%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. Sell-side analysts predict that The Clorox Company will post 7.15 EPS for the current year.

Clorox Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.0%. This is an increase from Clorox's previous quarterly dividend of $1.22. Clorox's payout ratio is currently 76.07%.

Insider Activity

In other news, Director Pierre R. Breber bought 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average cost of $136.57 per share, with a total value of $546,280.00. Following the transaction, the director directly owned 4,000 shares in the company, valued at $546,280. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company's stock.

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.