CIBC Asset Management Inc Acquires 1,332 Shares of The Clorox Company (NYSE:CLX)

CIBC Asset Management Inc grew its stake in The Clorox Company (NYSE:CLX) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,144 shares of the company’s stock after acquiring 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 and other institutional investors have also modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Clorox during the 2nd quarter worth approximately $30,000. Trifecta Capital Advisors LLC grew its stake in shares of Clorox by 139.8% in the second quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock valued at $30,000 after buying an additional 130 shares in the last quarter. Family Firm Inc. acquired a new position in Clorox during the second quarter worth $31,000. Quarry LP raised its position in Clorox by 99.1% during the second quarter. Quarry LP now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 114 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Clorox in the first quarter valued at $39,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CLX shares. JPMorgan Chase & Co. boosted their price objective on shares of Clorox from $148.00 to $174.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Barclays upped their price objective on Clorox from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Jefferies Financial Group raised Clorox from a “hold” rating to a “buy” rating and raised their price objective for the company from $174.00 to $187.00 in a research report on Tuesday, October 1st. Evercore ISI decreased their target price on Clorox from $140.00 to $139.00 and set an “underperform” rating on the stock in a report on Monday, October 14th. Finally, Citigroup raised their price target on Clorox from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $155.00.

Clorox Trading Up 0.9 %

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

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

Clorox Dividend Announcement

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

Insider Activity

In other news, EVP Angela C. Hilt sold 1,733 shares of the business’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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% 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.