Korea Investment CORP Sells 86,353 Shares of The Clorox Company $CLX

Korea Investment CORP lessened its holdings in shares of The Clorox Company (NYSE:CLX) by 73.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 31,217 shares of the company’s stock after selling 86,353 shares during the period. Korea Investment CORP’s holdings in Clorox were worth $3,849,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. bought a new position in Clorox in the 3rd quarter worth approximately $25,000. Total Investment Management Inc. bought a new stake in shares of Clorox in the second quarter valued at approximately $25,000. True Wealth Design LLC boosted its position in shares of Clorox by 1,020.0% in the third quarter. True Wealth Design LLC now owns 224 shares of the company’s stock valued at $28,000 after acquiring an additional 204 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Clorox in the third quarter worth $29,000. Finally, Bank & Trust Co bought a new position in Clorox during the third quarter worth $30,000. Institutional investors own 78.53% of the company’s stock.

Clorox Stock Down 3.1%

CLX opened at $108.72 on Friday. The company has a market capitalization of $13.15 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.55 and a beta of 0.59. The company has a debt-to-equity ratio of 71.03, a current ratio of 0.74 and a quick ratio of 0.48. The firm’s fifty day moving average price is $115.46 and its two-hundred day moving average price is $113.42. The Clorox Company has a fifty-two week low of $96.66 and a fifty-two week high of $150.84.

Clorox (NYSE:CLX) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 383.01%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that The Clorox Company will post 7.15 EPS for the current year.

Clorox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 22nd. Clorox’s dividend payout ratio is 81.05%.

Analysts Set New Price Targets

Several equities analysts recently commented on CLX shares. Jefferies Financial Group cut their target price on shares of Clorox from $152.00 to $151.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. The Goldman Sachs Group dropped their price objective on shares of Clorox from $110.00 to $94.00 and set a “sell” rating on the stock in a report on Wednesday, January 7th. Morgan Stanley upped their price objective on shares of Clorox from $125.00 to $136.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Clorox from $114.00 to $112.00 and set a “hold” rating for the company in a research note on Wednesday, February 4th. Finally, Weiss Ratings raised Clorox from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $118.73.

Clorox Company Profile

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.