Wallace Capital Management Inc. Boosts Position in The Clorox Company (NYSE:CLX)

Wallace Capital Management Inc. raised its position in The Clorox Company (NYSE:CLX) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,354 shares of the company’s stock after purchasing an additional 180 shares during the period. Wallace Capital Management Inc.’s holdings in Clorox were worth $1,822,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CLX. Van ECK Associates Corp increased its stake in shares of Clorox by 1,715.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,461,207 shares of the company’s stock worth $199,411,000 after purchasing an additional 1,380,724 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Clorox during the fourth quarter valued at $144,844,000. Nuance Investments LLC boosted its stake in shares of Clorox by 150.6% during the second quarter. Nuance Investments LLC now owns 1,597,674 shares of the company’s stock valued at $218,035,000 after acquiring an additional 960,094 shares during the last quarter. Parsifal Capital Management LP acquired a new position in Clorox in the 4th quarter valued at about $128,245,000. Finally, Confluence Investment Management LLC purchased a new position in Clorox in the 1st quarter valued at about $135,630,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BNP Paribas upgraded Clorox to a “strong sell” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Clorox from $144.00 to $151.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Citigroup increased their price target on shares of Clorox from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Barclays boosted their price objective on shares of Clorox from $122.00 to $130.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company reduced their target price on Clorox from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Six analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $143.33.

Clorox Stock Up 0.9 %

NYSE CLX opened at $163.42 on Monday. The stock has a market cap of $20.29 billion, a PE ratio of 84.67, a P/E/G ratio of 3.31 and a beta of 0.40. The business has a 50 day moving average price of $151.92 and a two-hundred day moving average price of $143.96. The Clorox Company has a fifty-two week low of $114.68 and a fifty-two week high of $169.09. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 5.04.

Clorox (NYSE:CLX) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.28. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.97 billion. Clorox had a net margin of 3.95% and a return on equity of 281.12%. As a group, sell-side analysts predict that The Clorox Company will post 6.63 EPS for the current fiscal year.

Clorox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 23rd will be paid a $1.22 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.88 dividend on an annualized basis and a yield of 2.99%. Clorox’s dividend payout ratio (DPR) is 252.85%.

Insider Activity at Clorox

In other Clorox news, EVP Angela C. Hilt sold 1,733 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $165.52, for a total transaction of $286,846.16. Following the sale, the executive vice president now directly owns 13,471 shares of the company’s stock, valued at $2,229,719.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

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.