Gulf International Bank UK Ltd Has $1.03 Million Stock Holdings in The Clorox Company $CLX

Key Points

• Gulf International Bank UK Ltd reduced its stake in The Clorox Company by 27.4%, ending the first quarter with 7,020 shares valued at approximately $1,033,000.
• While Clorox's recent quarterly earnings exceeded analysts' expectations with an EPS of $2.87, several analysts have lowered their price targets, with Morgan Stanley setting a new target of $137.00.
• Clorox announced an increase in its quarterly dividend to $1.24, reflecting a commitment to returning value to shareholders with a 4.1% yield.

Gulf International Bank UK Ltd trimmed its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 27.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,020 shares of the company's stock after selling 2,650 shares during the quarter. Gulf International Bank UK Ltd's holdings in Clorox were worth $1,033,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of CLX. Wood Tarver Financial Group LLC bought a new stake in Clorox during the 4th quarter worth approximately $31,000. GKV Capital Management Co. Inc. bought a new stake in Clorox during the 4th quarter worth approximately $32,000. GW&K Investment Management LLC grew its stake in shares of Clorox by 239.1% during the 1st quarter. GW&K Investment Management LLC now owns 295 shares of the company's stock worth $43,000 after acquiring an additional 208 shares in the last quarter. Roble Belko & Company Inc grew its stake in shares of Clorox by 140.7% during the 1st quarter. Roble Belko & Company Inc now owns 361 shares of the company's stock worth $53,000 after acquiring an additional 211 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new position in shares of Clorox during the 1st quarter worth approximately $58,000. 78.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a research note on Tuesday, July 15th. Evercore ISI set a $140.00 price target on shares of Clorox and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. UBS Group decreased their price target on shares of Clorox from $150.00 to $134.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Finally, Wells Fargo & Company raised their price target on shares of Clorox from $135.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $143.36.

Clorox Stock Down 2.2%

Shares of NYSE:CLX traded down $2.63 during midday trading on Monday, hitting $119.54. The stock had a trading volume of 2,100,423 shares, compared to its average volume of 1,849,115. The Clorox Company has a 12 month low of $117.35 and a 12 month high of $171.37. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 5.15. The business's 50-day simple moving average is $124.68 and its 200-day simple moving average is $136.05. The company has a market cap of $14.62 billion, a P/E ratio of 18.33, a PEG ratio of 0.98 and a beta of 0.49.

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

Clorox Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.96 annualized dividend and a yield of 4.1%. This is a positive change from Clorox's previous quarterly dividend of $1.22. Clorox's payout ratio is 76.07%.

About Clorox

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.