Axxcess Wealth Management LLC Purchases 2,582 Shares of The Clorox Company (NYSE:CLX)

Axxcess Wealth Management LLC raised its position in shares of The Clorox Company (NYSE:CLX) by 23.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,466 shares of the company’s stock after purchasing an additional 2,582 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Clorox were worth $1,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GoalVest Advisory LLC bought a new stake in Clorox during the first quarter valued at approximately $31,000. First Foundation Advisors purchased a new stake in shares of Clorox in the 1st quarter worth $31,000. Core Wealth Advisors Inc. bought a new position in Clorox in the 4th quarter worth $29,000. Innealta Capital LLC purchased a new position in Clorox during the second quarter valued at $30,000. Finally, Trifecta Capital Advisors LLC grew its holdings in Clorox by 139.8% during the second quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock valued at $30,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Insider Buying and Selling

In other Clorox news, EVP Angela C. Hilt sold 1,733 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 13,471 shares in the company, valued at approximately $2,229,719.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CLX. BNP Paribas raised Clorox to a “strong sell” rating in a research note on Friday, September 6th. Wells Fargo & Company lowered their price target on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen began coverage on shares of Clorox in a research note on Tuesday, July 23rd. They issued a “sell” rating and a $122.00 price objective for the company. Barclays raised their price objective on shares of Clorox from $122.00 to $130.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Finally, Argus upgraded Clorox to a “hold” rating in a research note on Tuesday, June 4th. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to MarketBeat, Clorox presently has an average rating of “Hold” and a consensus price target of $143.50.

Clorox Price Performance

Shares of CLX stock opened at $163.43 on Thursday. The stock has a 50 day moving average price of $148.06 and a 200 day moving average price of $143.56. The Clorox Company has a 52-week low of $114.68 and a 52-week high of $169.09. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 1.03. The firm has a market capitalization of $20.30 billion, a P/E ratio of 84.68, a P/E/G ratio of 3.29 and a beta of 0.40.

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

Clorox Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were issued a $1.22 dividend. This is a positive change from Clorox’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.99%. Clorox’s payout ratio is presently 252.85%.

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.