Commerce Bank Has $4.45 Million Holdings in The Clorox Company (NYSE:CLX)

Key Points

• Commerce Bank increased its holdings in The Clorox Company by 13.5%, owning 30,245 shares worth $4.45 million after additional purchases in the first quarter.
• Clorox reported earnings per share (EPS) of $2.87 for the last quarter, surpassing estimates and showing a 4.5% year-over-year revenue growth.
• The company announced a quarterly dividend increase to $1.24 per share, reflecting a 4.0% yield for shareholders.

Commerce Bank grew its holdings in The Clorox Company (NYSE:CLX - Free Report) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,245 shares of the company's stock after acquiring an additional 3,600 shares during the period. Commerce Bank's holdings in Clorox were worth $4,454,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. OneDigital Investment Advisors LLC acquired a new position in shares of Clorox in the 1st quarter valued at $247,000. Brown Miller Wealth Management LLC acquired a new position in Clorox during the first quarter worth $399,000. Roman Butler Fullerton & Co. purchased a new stake in shares of Clorox during the first quarter worth $400,000. Wedge Capital Management L L P NC grew its holdings 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 buying an additional 7,159 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its holdings 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 in the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Price Performance

Shares of NYSE:CLX traded up $0.13 on Wednesday, reaching $125.50. 1,652,071 shares of the company were exchanged, compared to its average volume of 1,872,468. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. The Clorox Company has a 1-year low of $117.35 and a 1-year high of $171.37. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 1.00 and a beta of 0.49. The company has a 50-day moving average of $125.84 and a 200-day moving average of $138.51.

Clorox (NYSE:CLX - Get Free Report) last announced 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 business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $1.82 EPS. The company's revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business 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 dividend of $1.24 per share. This is an increase from Clorox's previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, August 13th. Clorox's dividend payout ratio (DPR) is presently 74.85%.

Analyst Ratings Changes

Several research analysts have weighed in on CLX shares. Barclays lowered their target price on shares of Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a research note on Tuesday, July 15th. UBS Group reduced their price objective on shares of Clorox from $150.00 to $134.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Evercore ISI set a $140.00 price target on shares of Clorox and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group reduced their price target on shares of Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.