Mirae Asset Global Investments Co. Ltd. Purchases New Shares in The Clorox Company $CLX

Key Points

• Mirae Asset Global Investments opened a new Clorox position, acquiring 50,657 shares worth approximately $4.1 million in the third quarter. Institutional investors and hedge funds collectively own 78.53% of the stock.
• Clorox reported quarterly EPS of $1.55, beating the $1.07 consensus estimate, while revenue rose 33.3% year over year to $1.91 billion. The company declared a $1.25 quarterly dividend, equivalent to a 5.0% annualized yield.
• Analyst sentiment is broadly cautious: the stock has an average “Reduce” rating and an average price target of $93.79. Shares were recently trading at $99.80.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of The Clorox Company (NYSE:CLX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 50,657 shares of the company's stock, valued at approximately $4,104,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Clorox during the second quarter worth $958,640,000. Bank of America Corp DE purchased a new stake in shares of Clorox in the second quarter valued at $179,780,000. Royal Bank of Canada lifted its position in shares of Clorox by 20.1% in the first quarter. Royal Bank of Canada now owns 1,418,204 shares of the company's stock valued at $146,969,000 after acquiring an additional 237,301 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Clorox by 6.3% during the third quarter. ProShare Advisors LLC now owns 1,737,891 shares of the company's stock valued at $140,787,000 after acquiring an additional 102,732 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Clorox by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 1,280,226 shares of the company's stock valued at $132,670,000 after acquiring an additional 29,181 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Clorox news, Director Pierre Breber bought 4,000 shares of the business's stock in a transaction on Wednesday, November 4th. The shares were bought at an average cost of $100.06 per share, with a total value of $400,240.00. Following the transaction, the director directly owned 22,000 shares in the company, valued at approximately $2,201,320. This trade represents a 22.22% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.51% of the stock is currently owned by company insiders.

Clorox Trading Up 0.1%

Shares of NYSE CLX traded up $0.10 during midday trading on Friday, hitting $99.80. The stock had a trading volume of 2,387,525 shares, compared to its average volume of 2,530,187. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 3.00 and a beta of 0.59. The Clorox Company has a 1-year low of $79.12 and a 1-year high of $128.90. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. The company has a fifty day moving average price of $87.71 and a 200 day moving average price of $99.67.

Clorox (NYSE:CLX - Get Free Report) last posted its earnings results on Monday, November 2nd. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.48. Clorox had a net margin of 9.41% and a return on equity of 601.88%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The company's revenue was up 33.3% on a year-over-year basis. On average, analysts predict that The Clorox Company will post 5.76 earnings per share for the current year.

Clorox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, October 28th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, October 28th. This represents a $5.00 annualized dividend and a dividend yield of 5.0%. Clorox's payout ratio is 89.93%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $95.00 target price on shares of Clorox in a research note on Monday, October 19th. BNP Paribas Exane lowered their price target on shares of Clorox from $97.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Evercore raised shares of Clorox from an "underperform" rating to a "hold" rating and set a $99.00 price objective for the company in a research report on Monday, November 2nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Clorox in a research note on Tuesday. Finally, Citigroup decreased their target price on shares of Clorox from $97.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 14th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $93.79.

Clorox Company Profile

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt's Bees personal care items.

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