Brookstone Capital Management Cuts Position in The Clorox Company (NYSE:CLX)

Brookstone Capital Management reduced its stake in shares of The Clorox Company (NYSE:CLX) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,910 shares of the company’s stock after selling 161 shares during the quarter. Brookstone Capital Management’s holdings in Clorox were worth $963,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in Clorox during the second quarter valued at approximately $30,000. Trifecta Capital Advisors LLC boosted its holdings in Clorox by 139.8% in the second quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock worth $30,000 after acquiring an additional 130 shares in the last quarter. GoalVest Advisory LLC purchased a new stake in shares of Clorox during the first quarter worth about $31,000. First Foundation Advisors acquired a new position in shares of Clorox during the first quarter valued at about $31,000. Finally, Family Firm Inc. purchased a new position in shares of Clorox in the 2nd quarter valued at approximately $31,000. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Trading Up 1.4 %

CLX opened at $160.30 on Friday. 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 company’s 50 day simple moving average is $157.36 and its two-hundred day simple moving average is $144.78. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 83.06, a price-to-earnings-growth ratio of 3.19 and a beta of 0.41. The Clorox Company has a 1-year low of $114.68 and a 1-year high of $169.09.

Clorox (NYSE:CLX) last released its quarterly earnings data 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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.97 billion. Analysts expect that The Clorox Company will post 6.64 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. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.22 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.04%. Clorox’s dividend payout ratio is currently 252.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target 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. Jefferies Financial Group raised Clorox from a “hold” rating to a “buy” rating and upped their target price for the company from $174.00 to $187.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target on Clorox from $148.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday. TD Cowen started coverage on Clorox in a report on Tuesday, July 23rd. They issued a “sell” rating and a $122.00 price objective on the stock. Finally, Barclays lifted their target price on Clorox from $130.00 to $137.00 and gave the stock an “underweight” rating in a report on Friday. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Clorox currently has a consensus rating of “Hold” and an average target price of $150.36.

Insider Activity

In other Clorox news, EVP Angela C. Hilt sold 1,733 shares of Clorox 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 sale, the executive vice president now owns 13,471 shares in the company, valued at $2,229,719.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.51% of the company’s stock.

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.