Bridges Investment Management Inc. Raises Position in The Clorox Company (NYSE:CLX)

Bridges Investment Management Inc. lifted its stake in shares of The Clorox Company (NYSE:CLX) by 189.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,072 shares of the company’s stock after buying an additional 5,939 shares during the quarter. Bridges Investment Management Inc.’s holdings in Clorox were worth $1,238,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Clorox by 0.3% during the first quarter. Vanguard Group Inc. now owns 15,277,580 shares of the company’s stock valued at $2,339,150,000 after purchasing an additional 48,632 shares during the period. Nuance Investments LLC increased its stake in Clorox by 150.6% during the 2nd quarter. Nuance Investments LLC now owns 1,597,674 shares of the company’s stock worth $218,035,000 after buying an additional 960,094 shares during the period. Van ECK Associates Corp lifted its holdings in Clorox by 1,715.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,461,207 shares of the company’s stock worth $199,411,000 after buying an additional 1,380,724 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Clorox in the 4th quarter valued at about $144,844,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Clorox by 14.4% during the second quarter. Bank of New York Mellon Corp now owns 961,387 shares of the company’s stock valued at $131,200,000 after acquiring an additional 120,716 shares in the last quarter. 78.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Clorox

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

Analysts Set New Price Targets

CLX has been the topic of several recent analyst reports. TD Cowen initiated coverage on Clorox in a research note on Tuesday, July 23rd. They issued a “sell” rating and a $122.00 price target on the stock. Barclays upped their target price on Clorox from $122.00 to $130.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. DA Davidson reissued a “neutral” rating and set a $153.00 price target on shares of Clorox in a research report on Friday, September 6th. BNP Paribas raised shares of Clorox to a “strong sell” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Clorox from $150.00 to $148.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat.com, Clorox has an average rating of “Hold” and an average price target of $143.50.

Clorox Price Performance

CLX opened at $163.33 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.03 and a debt-to-equity ratio of 5.04. The company’s 50-day moving average price is $149.14 and its 200 day moving average price is $143.78. The Clorox Company has a fifty-two week low of $114.68 and a fifty-two week high of $169.09. The firm has a market cap of $20.28 billion, a price-to-earnings ratio of 84.63, a price-to-earnings-growth ratio of 3.29 and a beta of 0.40.

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

Clorox Dividend Announcement

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