The Clorox Company $CLX Stock Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its stake in The Clorox Company (NYSE:CLX) by 7.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,411 shares of the company’s stock after buying an additional 15,346 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.18% of Clorox worth $17,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLX. BlackRock Inc. purchased a new position in Clorox during the second quarter valued at approximately $958,640,000. Bank of America Corp DE acquired a new position in Clorox in the second quarter valued at approximately $179,780,000. ProShare Advisors LLC boosted its position in Clorox by 6.3% in the 3rd quarter. ProShare Advisors LLC now owns 1,737,891 shares of the company’s stock worth $140,787,000 after purchasing an additional 102,732 shares in the last quarter. Royal Bank of Canada boosted its position in Clorox by 20.1% in the 1st quarter. Royal Bank of Canada now owns 1,418,204 shares of the company’s stock worth $146,969,000 after purchasing an additional 237,301 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Clorox in the 2nd quarter worth approximately $123,154,000. 78.53% of the stock is owned by institutional investors and hedge funds.

Clorox Price Performance

Clorox stock opened at $99.80 on Friday. The stock has a market capitalization of $12.09 billion, a P/E ratio of 17.95, a P/E/G ratio of 3.15 and a beta of 0.59. The company’s fifty day moving average price is $87.71 and its 200 day moving average price is $99.67. The company has a debt-to-equity ratio of 32.91, a quick ratio of 0.38 and a current ratio of 0.65. The Clorox Company has a 1 year low of $79.12 and a 1 year high of $128.90.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Monday, November 2nd. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.48. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Clorox had a net margin of 9.41% and a return on equity of 608.30%. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, equities research analysts anticipate that The Clorox Company will post 5.75 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.0%. Clorox’s payout ratio is currently 89.93%.

Insider Activity at Clorox

In related news, Director Pierre Breber bought 4,000 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was acquired at an average price of $100.06 per share, with a total value of $400,240.00. Following the completion of the purchase, the director directly owned 22,000 shares of the company’s stock, valued at approximately $2,201,320. This trade represents a 22.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $95.00 target price on shares of Clorox in a report on Monday, October 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Clorox in a report on Tuesday. Morgan Stanley increased their price target on shares of Clorox from $87.00 to $94.00 and gave the stock an “equal weight” rating in a report on Wednesday. Citigroup dropped their price target on shares of Clorox from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Finally, BNP Paribas Exane cut their price objective on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $93.79.

Clorox Profile

The Clorox Company is a consumer products company founded in 1913 and headquartered in Oakland, California. It makes and markets products for household cleaning, food, water filtration, personal care and pet care.

Its portfolio includes Clorox disinfecting and cleaning products, Glad trash bags and food-storage products, Kingsford charcoal, Brita water filters, Hidden Valley dressings and sauces, Burt’s Bees personal-care products, and Fresh Step cat litter. The company also sells products under brands such as Pine-Sol and Liquid-Plumr.

Clorox serves consumers primarily in the United States and also sells products in international markets.