PNC Financial Services Group Inc. Sells 4,240 Shares of The Clorox Company (NYSE:CLX)

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.

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

Other institutional investors have also recently added to or reduced their stakes in the company. Sonora Investment Management Group LLC boosted its holdings in shares of Clorox by 2.5% in the first quarter. Sonora Investment Management Group LLC now owns 2,940 shares of the company's stock worth $433,000 after buying an additional 72 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Clorox by 0.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,266 shares of the company's stock worth $1,953,000 after purchasing an additional 73 shares during the period. Financial Avengers Inc. grew its position in Clorox by 32.1% during the 4th quarter. Financial Avengers Inc. now owns 457 shares of the company's stock worth $74,000 after purchasing an additional 111 shares in the last quarter. ABLE Financial Group LLC grew its holdings in shares of Clorox by 3.3% during the fourth quarter. ABLE Financial Group LLC now owns 3,502 shares of the company's stock valued at $569,000 after buying an additional 113 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in Clorox by 14.6% during the first quarter. Central Pacific Bank Trust Division now owns 900 shares of the company's stock valued at $133,000 after buying an additional 115 shares during the period. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CLX shares. Citigroup reaffirmed a "neutral" rating and set a $135.00 target price (down previously from $140.00) on shares of Clorox in a research note on Tuesday, July 15th. Jefferies Financial Group lowered their price target on shares of Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Evercore ISI set a $140.00 price objective on Clorox and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Barclays reduced their price target on Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $143.36.

Clorox Stock Performance

NYSE:CLX traded up $0.13 during trading hours on Wednesday, hitting $125.50. 1,652,071 shares of the company traded hands, 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 stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 1.00 and a beta of 0.49. The firm has a 50-day moving average of $125.84 and a 200 day moving average of $138.51. The Clorox Company has a twelve month low of $117.35 and a twelve month high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.24 by $0.63. The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.94 billion. Clorox had a return on equity of 377.86% and a net margin of 11.40%. Clorox's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.82 earnings per share. On average, analysts forecast that The Clorox Company will post 7.15 EPS for the current year.

Clorox Increases Dividend

The business also recently announced 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. This is a boost from Clorox's previous quarterly dividend of $1.22. The ex-dividend date is Wednesday, August 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.0%. Clorox's dividend payout ratio is 74.85%.

Clorox Company 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.