CIBC Asset Management Inc boosted its stake in shares of The Clorox Company (NYSE:CLX – Get Rating) by 143.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,296 shares of the company’s stock after buying an additional 17,273 shares during the period. CIBC Asset Management Inc’s holdings in Clorox were worth $4,073,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FSB Premier Wealth Management Inc. purchased a new stake in Clorox in the fourth quarter valued at $28,000. Carl Stuart Investment Advisor Inc. purchased a new stake in Clorox in the first quarter valued at $28,000. Financial Avengers Inc. raised its position in Clorox by 119.7% in the fourth quarter. Financial Avengers Inc. now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 91 shares during the period. Lumature Wealth Partners LLC raised its position in Clorox by 74.0% in the fourth quarter. Lumature Wealth Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after purchasing an additional 71 shares during the period. Finally, Cyrus J. Lawrence LLC purchased a new stake in Clorox in the first quarter valued at $31,000. Institutional investors and hedge funds own 77.28% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on CLX shares. Credit Suisse Group reduced their target price on Clorox from $140.00 to $130.00 and set an “underperform” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on Clorox from $145.00 to $132.00 and set a “hold” rating on the stock in a research note on Tuesday, June 21st. JPMorgan Chase & Co. increased their target price on Clorox from $127.00 to $132.00 in a research note on Thursday, July 21st. Raymond James assumed coverage on Clorox in a research note on Tuesday, July 12th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Wells Fargo & Company decreased their target price on Clorox from $130.00 to $120.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 21st. Nine equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $130.92.
Clorox Trading Up 0.9 %
Clorox Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Wednesday, July 27th will be issued a $1.18 dividend. The ex-dividend date is Tuesday, July 26th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from Clorox’s previous quarterly dividend of $1.16. Clorox’s dividend payout ratio is presently 126.88%.
In other news, Director A D. David Mackay sold 1,000 shares of the stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $140.63, for a total value of $140,630.00. Following the transaction, the director now owns 600 shares in the company, valued at approximately $84,378. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Eric H. Reynolds sold 585 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $154.83, for a total transaction of $90,575.55. Following the transaction, the chief operating officer now owns 17,289 shares in the company, valued at approximately $2,676,855.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director A D. David Mackay sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $140.63, for a total value of $140,630.00. Following the transaction, the director now owns 600 shares in the company, valued at approximately $84,378. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
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 brand names; professional cleaning and disinfecting products under the CloroxPro, Clorox Healthcare, and Clorox Total 360 brand names; professional food service products under the Hidden Valley brand name; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brand names in the United States.
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