CIBC Asset Management Inc Has $3.45 Million Stock Holdings in The Clorox Company (NYSE:CLX)

CIBC Asset Management Inc increased its stake in shares of The Clorox Company (NYSE:CLX) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,144 shares of the company’s stock after buying an additional 1,332 shares during the period. CIBC Asset Management Inc’s holdings in Clorox were worth $3,445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co lifted its position in shares of Clorox by 15.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 141,622 shares of the company’s stock worth $21,705,000 after purchasing an additional 18,687 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Clorox by 257.5% during the 1st quarter. Advisors Asset Management Inc. now owns 11,228 shares of the company’s stock worth $1,719,000 after buying an additional 8,087 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Clorox in the 3rd quarter valued at $54,000. Raymond James & Associates increased its stake in shares of Clorox by 32.8% in the 2nd quarter. Raymond James & Associates now owns 267,632 shares of the company’s stock valued at $36,524,000 after buying an additional 66,149 shares during the period. Finally, M&G Plc bought a new stake in shares of Clorox during the second quarter worth $876,000. Institutional investors own 78.53% of the company’s stock.

Clorox Price Performance

Shares of CLX opened at $169.14 on Tuesday. The stock has a 50 day simple moving average of $162.53 and a 200 day simple moving average of $147.73. The Clorox Company has a 52-week low of $127.60 and a 52-week high of $169.21. The company has a debt-to-equity ratio of 11.08, a quick ratio of 0.62 and a current ratio of 1.00. The firm has a market capitalization of $20.94 billion, a PE ratio of 58.93, a P/E/G ratio of 3.10 and a beta of 0.41.

Clorox (NYSE:CLX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.50. Clorox had a net margin of 4.78% and a return on equity of 316.08%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. Sell-side analysts predict that The Clorox Company will post 6.85 EPS for the current fiscal year.

Clorox Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Wednesday, October 23rd were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Wednesday, October 23rd. Clorox’s dividend payout ratio is 170.03%.

Insider Activity

In other Clorox news, EVP Angela C. Hilt sold 1,733 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 approximately $2,229,719.92. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

CLX has been the topic of several recent research reports. Jefferies Financial Group upgraded Clorox from a “hold” rating to a “buy” rating and raised their price target for the company from $174.00 to $187.00 in a report on Tuesday, October 1st. Citigroup lifted their price target on shares of Clorox from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Evercore ISI cut their price objective on shares of Clorox from $140.00 to $139.00 and set an “underperform” rating on the stock in a report on Monday, October 14th. TD Cowen raised shares of Clorox from a “sell” rating to a “hold” rating and lifted their target price for the stock from $155.00 to $170.00 in a report on Wednesday, November 6th. Finally, Barclays increased their price target on Clorox from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $155.00.

About Clorox

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.