The Clorox Company $CLX Stock Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Clorox stake by 75.8% in the third quarter, selling 233,713 shares and retaining 74,778 shares valued at about $6.1 million.
• Clorox reported quarterly adjusted earnings of $1.55 per share, beating the $1.07 consensus estimate, while revenue rose 33.3% year over year to $1.91 billion.
• The company declared a quarterly dividend of $1.25 per share, equivalent to a 5.0% annualized yield. Analysts’ consensus rating was “Reduce,” with an average price target of $93.79.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of The Clorox Company (NYSE:CLX - Free Report) by 75.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,778 shares of the company's stock after selling 233,713 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.06% of Clorox worth $6,058,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in Clorox during the 2nd quarter worth about $958,640,000. Bank of America Corp DE acquired a new stake in shares of Clorox during the second quarter valued at approximately $179,780,000. Royal Bank of Canada raised its holdings in shares of Clorox by 20.1% during 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 during the period. ProShare Advisors LLC lifted its position in shares of Clorox by 6.3% in the 3rd 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Clorox by 2.3% in the 1st 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 in the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clorox

In related news, Director Pierre Breber purchased 4,000 shares of the firm's stock in a transaction dated Wednesday, November 4th. The stock was bought at an average price of $100.06 per share, for a total transaction of $400,240.00. Following the purchase, the director owned 22,000 shares in the company, valued at $2,201,320. The trade was 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 owned by corporate insiders.

Clorox Stock Up 0.1%

CLX traded up $0.10 during midday trading on Friday, hitting $99.80. 2,387,525 shares of the company's stock traded hands, compared to its average volume of 2,530,187. The company has a market cap of $12.07 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59. The stock's fifty day simple moving average is $87.71 and its 200-day simple moving average is $99.67. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. The Clorox Company has a one year low of $79.12 and a one year high of $128.90.

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

Clorox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Wednesday, October 28th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 5.0%. The ex-dividend date is Wednesday, October 28th. Clorox's dividend payout ratio (DPR) is 89.93%.

Wall Street Analyst Weigh In

CLX has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of Clorox from $97.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 14th. Zacks Research downgraded shares of Clorox from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 29th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Clorox in a research report on Tuesday, October 6th. Wells Fargo & Company lifted their target price on shares of Clorox from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Clorox from $83.00 to $86.00 and gave the company an "underweight" rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $93.79.

About Clorox

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.