Gradient Investments LLC Lowers Holdings in The Clorox Company (NYSE:CLX)

Gradient Investments LLC decreased its position in The Clorox Company (NYSE:CLXGet Rating) by 14.5% in the second quarter, Holdings Channel reports. The firm owned 600 shares of the company’s stock after selling 102 shares during the period. Gradient Investments LLC’s holdings in Clorox were worth $85,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Hurlow Wealth Management Group Inc. boosted its holdings in shares of 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 purchasing an additional 134 shares during the period. Stonnington Group LLC boosted its holdings in shares of 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 purchasing an additional 105 shares during the period. Martin Capital Partners LLC boosted its holdings in shares of 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 purchasing an additional 1,163 shares during the period. Wealth Alliance Advisory Group LLC purchased a new stake in shares of Clorox in the second quarter valued at approximately $237,000. Finally, DnB Asset Management AS boosted its holdings in shares of 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 purchasing an additional 983 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s stock.

Clorox Stock Performance

Shares of CLX stock opened at $141.30 on Wednesday. The business’s fifty day simple moving average is $145.49 and its 200-day simple moving average is $142.71. The company has a market cap of $17.40 billion, a PE ratio of 37.98, a PEG ratio of 5.05 and a beta of 0.18. The company has a current ratio of 0.97, a quick ratio of 0.54 and a debt-to-equity ratio of 3.39. The Clorox Company has a 12-month low of $120.50 and a 12-month high of $186.86.

Clorox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Wednesday, October 26th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a dividend yield of 3.34%. Clorox’s payout ratio is 126.88%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CLX shares. Credit Suisse Group lowered their target price on Clorox from $140.00 to $130.00 and set an “underperform” rating for the company in a report on Thursday, August 4th. UBS Group lowered their target price on Clorox to $129.00 in a report on Friday, July 22nd. JPMorgan Chase & Co. upped their target price on Clorox from $127.00 to $132.00 in a report on Thursday, July 21st. Bank of America started coverage on Clorox in a report on Wednesday, September 14th. They set an “underperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Clorox from $145.00 to $132.00 and set a “hold” rating for the company in a report on Tuesday, June 21st. Ten equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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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