The Clorox Company (NYSE:CLX) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. increased its position in The Clorox Company (NYSE:CLX) by 189.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,072 shares of the company’s stock after purchasing an additional 5,939 shares during the period. Bridges Investment Management Inc.’s holdings in Clorox were worth $1,238,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Core Wealth Advisors Inc. purchased a new stake in Clorox in the fourth quarter valued at approximately $29,000. Innealta Capital LLC acquired a new stake in Clorox during the 2nd quarter worth $30,000. Trifecta Capital Advisors LLC boosted its stake in Clorox by 139.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares during the period. GoalVest Advisory LLC purchased a new position in Clorox during the 1st quarter worth $31,000. Finally, First Foundation Advisors acquired a new position in Clorox in the first quarter valued at $31,000. 78.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Clorox Trading Up 0.8 %

NYSE CLX opened at $163.33 on Friday. The company has a 50-day moving average of $149.14 and a 200-day moving average of $143.78. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.03 and a quick ratio of 0.63. The Clorox Company has a 12 month low of $114.68 and a 12 month high of $169.09. The company has a market cap of $20.28 billion, a P/E ratio of 84.63, a P/E/G ratio of 3.29 and a beta of 0.40.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.54 by $0.28. The firm 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, equities analysts predict that The Clorox Company will post 6.63 earnings per share for the current year.

Clorox Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Clorox from $144.00 to $151.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Citigroup lifted their target price on Clorox from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. TD Cowen initiated coverage on Clorox in a research note on Tuesday, July 23rd. They set a “sell” rating and a $122.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. dropped 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 given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.50.

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.