The Clorox Company (NYSE:CLX) Shares Acquired by Inspire Trust Co. N.A.

Key Points

• Inspire Trust Co. N.A. increased its stake in The Clorox Company by 26.3%, now owning a total of 24,000 shares valued at approximately $3.53 million.
• The company reported a Q2 EPS of $2.87, exceeding analyst estimates of $2.24, with a revenue of $1.99 billion for the quarter, up 4.5% from the previous year.
• Clorox announced a quarterly dividend increase from $1.22 to $1.24 per share, representing a 4% yield with a payout ratio of 74.85%.

Inspire Trust Co. N.A. boosted its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 26.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the company's stock after purchasing an additional 5,000 shares during the quarter. Inspire Trust Co. N.A.'s holdings in Clorox were worth $3,534,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CLX. OneDigital Investment Advisors LLC purchased a new position in Clorox during the first quarter worth approximately $247,000. Brown Miller Wealth Management LLC purchased a new position in Clorox during the first quarter worth approximately $399,000. Roman Butler Fullerton & Co. purchased a new position in Clorox during the first quarter worth approximately $400,000. Wedge Capital Management L L P NC lifted its position in 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 lifted its position in 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. Hedge funds and other institutional investors own 78.53% of the company's stock.

Clorox Trading Up 0.5%

CLX stock traded up $0.59 during midday trading on Friday, hitting $122.17. 1,204,790 shares of the company's stock were exchanged, compared to its average volume of 1,871,838. The business has a 50-day simple moving average of $124.84 and a two-hundred day simple moving average of $136.49. 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 stock has a market capitalization of $14.94 billion, a PE ratio of 18.74, a P/E/G ratio of 0.98 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.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reiterated a "neutral" rating and set a $135.00 price objective (down previously from $140.00) on shares of Clorox in a research report on Tuesday, July 15th. Wells Fargo & Company lifted their price objective on Clorox from $135.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Jefferies Financial Group reduced their price objective on Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. reduced their price objective on Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Finally, UBS Group reduced their price objective on Clorox from $150.00 to $134.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Clorox has a consensus rating of "Hold" and a consensus target price of $143.36.

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.