Clorox Co (CLX) CEO Sells $25,128,168.67 in Stock

Clorox Co (NYSE:CLX) CEO Benno O. Dorer sold 152,449 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $164.83, for a total value of $25,128,168.67. Following the transaction, the chief executive officer now directly owns 111,735 shares in the company, valued at $18,417,280.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Clorox stock traded up $0.13 during trading on Thursday, reaching $163.76. 1,082,118 shares of the stock were exchanged, compared to its average volume of 1,185,431. The company has a current ratio of 1.07, a quick ratio of 0.65 and a debt-to-equity ratio of 3.38. The firm has a market cap of $20.89 billion, a P/E ratio of 26.16, a P/E/G ratio of 4.02 and a beta of 0.30. Clorox Co has a 1 year low of $113.57 and a 1 year high of $167.70.

Clorox (NYSE:CLX) last posted its earnings results on Wednesday, October 31st. The company reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.03. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. Clorox had a net margin of 13.59% and a return on equity of 102.65%. Clorox’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. Research analysts forecast that Clorox Co will post 6.31 earnings per share for the current fiscal year.



The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Wednesday, January 23rd will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Tuesday, January 22nd. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.34%. Clorox’s dividend payout ratio is currently 61.34%.

Several institutional investors have recently bought and sold shares of CLX. Parnassus Investments CA lifted its holdings in Clorox by 1.6% in the second quarter. Parnassus Investments CA now owns 4,711,970 shares of the company’s stock worth $637,294,000 after buying an additional 76,149 shares during the period. Morgan Stanley lifted its holdings in Clorox by 178.2% in the third quarter. Morgan Stanley now owns 3,063,813 shares of the company’s stock worth $460,828,000 after buying an additional 1,962,433 shares during the period. Macquarie Group Ltd. lifted its holdings in Clorox by 437,400.0% in the second quarter. Macquarie Group Ltd. now owns 1,750,000 shares of the company’s stock worth $236,688,000 after buying an additional 1,749,600 shares during the period. Bank of New York Mellon Corp lifted its holdings in Clorox by 15.1% in the third quarter. Bank of New York Mellon Corp now owns 1,664,803 shares of the company’s stock worth $250,403,000 after buying an additional 218,364 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in Clorox by 57.0% in the second quarter. Schroder Investment Management Group now owns 1,506,358 shares of the company’s stock worth $201,641,000 after buying an additional 547,070 shares during the period. Institutional investors own 77.96% of the company’s stock.

A number of brokerages have recently issued reports on CLX. Bank of America reaffirmed a “neutral” rating and set a $170.00 price objective (up from $150.00) on shares of Clorox in a research note on Thursday. Zacks Investment Research cut Clorox from a “hold” rating to a “sell” rating in a research note on Monday. Citigroup raised their price objective on Clorox from $153.00 to $169.00 and gave the company a “hold” rating in a research note on Tuesday, November 20th. BMO Capital Markets raised their price objective on Clorox from $153.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, November 2nd. Finally, Barclays set a $138.00 price objective on Clorox and gave the company a “hold” rating in a research note on Thursday, November 1st. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $144.93.

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About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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