2,645 Shares in The Clorox Company (NYSE:CLX) Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC purchased a new position in shares of The Clorox Company (NYSE:CLX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,645 shares of the company’s stock, valued at approximately $431,000.

Several other hedge funds have also recently modified their holdings of the stock. Studio Investment Management LLC acquired a new stake in shares of Clorox during the third quarter worth $419,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Clorox by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 723,906 shares of the company’s stock worth $117,932,000 after purchasing an additional 13,038 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Clorox by 14.6% during the third quarter. Intech Investment Management LLC now owns 28,370 shares of the company’s stock worth $4,622,000 after purchasing an additional 3,615 shares during the period. Bellwether Advisors LLC acquired a new stake in shares of Clorox during the third quarter worth $1,659,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Clorox during the third quarter worth $73,000. 78.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLX has been the subject of a number of recent analyst reports. TD Cowen raised Clorox from a “sell” rating to a “hold” rating and raised their target price for the company from $155.00 to $170.00 in a report on Wednesday, November 6th. Evercore ISI reduced their target price on Clorox from $140.00 to $139.00 and set an “underperform” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on Clorox from $144.00 to $151.00 and gave the company a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on Clorox from $148.00 to $174.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Finally, BNP Paribas raised Clorox to a “strong sell” rating in a report on Friday, September 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Clorox presently has an average rating of “Hold” and a consensus target price of $155.00.

Clorox Stock Up 0.1 %

CLX opened at $169.30 on Monday. The company has a debt-to-equity ratio of 11.08, a current ratio of 1.00 and a quick ratio of 0.62. The stock has a market capitalization of $20.96 billion, a price-to-earnings ratio of 58.99, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41. The business has a 50-day moving average of $162.78 and a two-hundred day moving average of $148.54. The Clorox Company has a 12 month low of $127.60 and a 12 month high of $171.35.

Clorox (NYSE:CLX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.50. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. Clorox had a return on equity of 316.08% and a net margin of 4.78%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. On average, research analysts expect that The Clorox Company will post 6.85 earnings per share for the current year.

Clorox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 29th will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, January 29th. Clorox’s dividend payout ratio is currently 170.04%.

Insider Activity

In related news, EVP Angela C. Hilt sold 1,733 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $165.52, for a total transaction of $286,846.16. Following the transaction, the executive vice president now directly owns 13,471 shares of the company’s stock, valued at approximately $2,229,719.92. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Clorox 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.