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

Brookstone Capital Management increased its holdings in shares of The Clorox Company (NYSE:CLXGet Rating) by 44.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,975 shares of the company’s stock after purchasing an additional 21,428 shares during the period. Brookstone Capital Management owned approximately 0.06% of Clorox worth $9,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Hurlow Wealth Management Group Inc. increased its holdings in Clorox by 7.2% in the second quarter. Hurlow Wealth Management Group Inc. now owns 1,997 shares of the company’s stock valued at $282,000 after buying an additional 134 shares in the last quarter. Stonnington Group LLC increased its holdings in Clorox by 2.6% in the second quarter. Stonnington Group LLC now owns 4,160 shares of the company’s stock valued at $605,000 after buying an additional 105 shares in the last quarter. Martin Capital Partners LLC increased its holdings in Clorox by 4.9% in the second quarter. Martin Capital Partners LLC now owns 24,754 shares of the company’s stock valued at $3,490,000 after buying an additional 1,163 shares in the last quarter. Wealth Alliance Advisory Group LLC purchased a new position in Clorox in the second quarter valued at $237,000. Finally, DnB Asset Management AS increased its holdings in Clorox by 1.8% in the second quarter. DnB Asset Management AS now owns 54,979 shares of the company’s stock valued at $7,751,000 after buying an additional 983 shares in the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.

Clorox Stock Performance

NYSE:CLX opened at $141.77 on Monday. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.97 and a quick ratio of 0.54. The firm has a market capitalization of $17.46 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 5.05 and a beta of 0.18. The company’s 50-day moving average is $145.46 and its two-hundred day moving average is $142.75. The Clorox Company has a 1-year low of $120.50 and a 1-year high of $186.86.

Clorox Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Wednesday, July 27th were issued a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 3.33%. This is a positive change from Clorox’s previous quarterly dividend of $1.16. The ex-dividend date was Tuesday, July 26th. Clorox’s payout ratio is presently 126.88%.

Analysts Set New Price Targets

A number of research firms have weighed in on CLX. Credit Suisse Group cut their price objective on shares of Clorox from $140.00 to $130.00 and set an “underperform” rating for the company in a report on Thursday, August 4th. DA Davidson boosted their target price on shares of Clorox from $123.00 to $124.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Bank of America initiated coverage on shares of Clorox in a research note on Wednesday, September 14th. They set an “underperform” rating for the company. Barclays boosted their target price on shares of Clorox from $93.00 to $101.00 and gave the stock an “underweight” rating in a research note on Friday, August 19th. Finally, Morgan Stanley cut their target price on shares of Clorox from $137.00 to $130.00 and set an “underweight” rating for the company in a research note on Thursday, August 4th. Ten equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Clorox has an average rating of “Reduce” and an average price target of $130.67.

About Clorox

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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.

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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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