Cypress Capital Group Reduces Stock Holdings in The Clorox Company (NYSE:CLX)

Cypress Capital Group decreased its holdings in The Clorox Company (NYSE:CLX) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,029 shares of the company’s stock after selling 363 shares during the quarter. Cypress Capital Group’s holdings in Clorox were worth $823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Trust N.A. lifted its stake in Clorox by 7.7% in the second quarter. Raymond James Trust N.A. now owns 6,602 shares of the company’s stock worth $901,000 after acquiring an additional 474 shares during the period. Northcape Wealth Management LLC raised its holdings in Clorox by 23.6% in the second quarter. Northcape Wealth Management LLC now owns 2,093 shares of the company’s stock worth $286,000 after purchasing an additional 400 shares in the last quarter. AMG National Trust Bank raised its holdings in Clorox by 95.3% in the second quarter. AMG National Trust Bank now owns 7,275 shares of the company’s stock worth $993,000 after purchasing an additional 3,550 shares in the last quarter. First Merchants Corp bought a new position in Clorox in the second quarter worth $260,000. Finally, Family Firm Inc. bought a new position in Clorox in the second quarter worth $31,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Clorox Trading Up 0.9 %

Shares of NYSE CLX traded up $1.38 during trading hours on Monday, hitting $154.44. 111,820 shares of the company traded hands, compared to its average volume of 1,251,516. The stock has a market capitalization of $19.18 billion, a price-to-earnings ratio of 79.31, a price-to-earnings-growth ratio of 1.97 and a beta of 0.39. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 9.73. The company’s 50 day moving average price is $138.34 and its 200 day moving average price is $142.29. The Clorox Company has a 12 month low of $114.68 and a 12 month high of $158.89.

Clorox (NYSE:CLX) last released its earnings results on Thursday, August 1st. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.28. Clorox had a return on equity of 382.58% and a net margin of 3.95%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.97 billion. On average, equities research analysts anticipate that The Clorox Company will post 6.4 earnings per share for the current fiscal year.

Clorox Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be issued a dividend of $1.22 per share. The ex-dividend date is Tuesday, August 13th. This represents a $4.88 dividend on an annualized basis and a yield of 3.16%. This is a boost from Clorox’s previous quarterly dividend of $1.20. Clorox’s payout ratio is presently 252.85%.

Analysts Set New Price Targets

CLX has been the subject of several analyst reports. Citigroup reduced their price target on Clorox from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Argus upgraded Clorox to a “hold” rating in a report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Clorox from $144.00 to $151.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Barclays lifted their price objective on Clorox from $122.00 to $130.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Finally, BNP Paribas started coverage on Clorox in a report on Monday, June 24th. They issued an “underperform” rating and a $130.00 price objective for the company. Six analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat.com, Clorox presently has a consensus rating of “Hold” and an average price target of $141.94.

Clorox Company 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.