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The Clorox Company (NYSE:CLX) Shares Sold by PNC Financial Services Group Inc.

Clorox logo with Consumer Staples background

Key Points

  • PNC Financial Services Group Inc. has reduced its stake in The Clorox Company by 4.3%, owning approximately 0.08% of the company after selling 4,240 shares in the first quarter.
  • Clorox recently increased its quarterly dividend from $1.22 to $1.24 per share, representing a yield of 4.0% with a payout ratio of 74.85%.
  • Wall Street analysts have mixed ratings on Clorox, with a consensus rating of "Hold" and an average target price of $143.36 amidst various price adjustments from different firms.
  • Want stock alerts on Clorox? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

PNC Financial Services Group Inc. trimmed its position in The Clorox Company (NYSE:CLX - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,931 shares of the company's stock after selling 4,240 shares during the quarter. PNC Financial Services Group Inc. owned about 0.08% of Clorox worth $13,831,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in Clorox by 0.4% in the 4th quarter. Stifel Financial Corp now owns 2,344,408 shares of the company's stock worth $380,761,000 after acquiring an additional 9,582 shares in the last quarter. Northern Trust Corp boosted its position in shares of Clorox by 18.2% during the 4th quarter. Northern Trust Corp now owns 1,494,265 shares of the company's stock valued at $242,684,000 after acquiring an additional 230,173 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Clorox by 28.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,421,909 shares of the company's stock valued at $230,932,000 after acquiring an additional 316,688 shares during the last quarter. FMR LLC boosted its position in shares of Clorox by 75.4% during the 4th quarter. FMR LLC now owns 1,361,758 shares of the company's stock valued at $221,163,000 after acquiring an additional 585,526 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Clorox by 12.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,115,772 shares of the company's stock valued at $181,213,000 after acquiring an additional 123,200 shares during the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CLX. Citigroup reiterated a "neutral" rating and set a $135.00 target price (down from $140.00) on shares of Clorox in a research report on Tuesday, July 15th. UBS Group lowered their target price on Clorox from $150.00 to $134.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Jefferies Financial Group lowered their target price on Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Barclays reduced their target price on Clorox from $129.00 to $119.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. reduced their target price on Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Three equities 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $143.36.

Check Out Our Latest Stock Report on CLX

Clorox Stock Down 0.9%

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 firm has a market cap of $15.39 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.49. 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 Clorox Company has a 52-week low of $117.35 and a 52-week high of $171.37. The stock's fifty day simple moving average is $125.51 and its 200 day simple moving average is $137.95.

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 company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $1.82 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts predict 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 given a dividend of $1.24 per share. The ex-dividend date of this dividend is Wednesday, August 13th. 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 yield of 4.0%. Clorox's dividend payout ratio is 74.85%.

About Clorox

(Free Report)

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.

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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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