World Equity Group Inc. Has $429,000 Stake in The Clorox Company (NYSE:CLX)

World Equity Group Inc. trimmed its holdings in The Clorox Company (NYSE:CLX) by 51.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,144 shares of the company’s stock after selling 3,342 shares during the period. World Equity Group Inc.’s holdings in Clorox were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CLX. Choreo LLC lifted its holdings in Clorox by 12.8% during the 4th quarter. Choreo LLC now owns 5,741 shares of the company’s stock worth $819,000 after purchasing an additional 652 shares during the last quarter. abrdn plc lifted its holdings in Clorox by 20.1% during the 4th quarter. abrdn plc now owns 198,250 shares of the company’s stock worth $28,268,000 after purchasing an additional 33,135 shares during the last quarter. Savoir Faire Capital Management L.P. lifted its holdings in Clorox by 61.8% during the 4th quarter. Savoir Faire Capital Management L.P. now owns 65,192 shares of the company’s stock worth $9,296,000 after purchasing an additional 24,897 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Clorox by 1,525.7% during the 1st quarter. SG Americas Securities LLC now owns 65,612 shares of the company’s stock worth $10,046,000 after purchasing an additional 61,576 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its holdings in Clorox by 93.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 72,053 shares of the company’s stock worth $11,032,000 after purchasing an additional 34,864 shares during the last quarter. 78.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CLX. BNP Paribas began coverage on Clorox in a research note on Monday, June 24th. They set an “underperform” rating and a $130.00 price objective on the stock. TD Cowen began coverage on Clorox in a research note on Tuesday, July 23rd. They set a “sell” rating and a $122.00 price objective on the stock. Evercore ISI lowered their price objective on Clorox from $145.00 to $142.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on Clorox from $150.00 to $148.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price objective on Clorox from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.94.

Clorox Price Performance

CLX stock traded down $0.53 during midday trading on Friday, reaching $145.40. 926,064 shares of the stock were exchanged, compared to its average volume of 1,260,555. The stock has a market capitalization of $18.06 billion, a PE ratio of 75.34, a P/E/G ratio of 1.97 and a beta of 0.39. The Clorox Company has a 52 week low of $114.68 and a 52 week high of $158.89. The company has a debt-to-equity ratio of 9.73, a current ratio of 0.90 and a quick ratio of 0.53. The company has a fifty day moving average price of $136.47 and a 200 day moving average price of $142.41.

Clorox Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be given 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 3.36%. This is a positive change from Clorox’s previous quarterly dividend of $1.20. Clorox’s payout ratio is currently 252.85%.

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.