Northeast Investment Management Has $8.46 Million Position in The Clorox Company (NYSE:CLX)

Northeast Investment Management lessened its stake in shares of The Clorox Company (NYSE:CLX) by 11.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,983 shares of the company’s stock after selling 7,680 shares during the period. Northeast Investment Management’s holdings in Clorox were worth $8,459,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in Clorox by 308.5% during the first quarter. Venturi Wealth Management LLC now owns 192 shares of the company’s stock worth $29,000 after buying an additional 145 shares during the last quarter. Northwest Financial Advisors acquired a new position in Clorox during the fourth quarter worth $29,000. Core Wealth Advisors Inc. acquired a new position in Clorox during the fourth quarter worth $29,000. First United Bank & Trust acquired a new position in Clorox during the fourth quarter worth $31,000. Finally, GoalVest Advisory LLC acquired a new position in Clorox during the first quarter worth $31,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Clorox from $164.00 to $159.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Barclays increased their target price on shares of Clorox from $122.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Wells Fargo & Company lowered their target price on shares of Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Evercore ISI lowered their target price on shares of Clorox from $145.00 to $142.00 and set an “underperform” rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Clorox from $150.00 to $148.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat, Clorox currently has a consensus rating of “Hold” and an average price target of $143.19.

Clorox Stock Performance

NYSE:CLX traded down $1.05 on Wednesday, reaching $155.44. 1,376,384 shares of the company’s stock were exchanged, compared to its average volume of 1,257,634. The company has a debt-to-equity ratio of 9.73, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 80.54, a P/E/G ratio of 1.97 and a beta of 0.39. The Clorox Company has a 52 week low of $114.68 and a 52 week high of $158.89. The stock has a fifty day simple moving average of $139.38 and a 200-day simple moving average of $142.41.

Clorox (NYSE:CLX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.54 by $0.28. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Clorox had a net margin of 3.95% and a return on equity of 382.58%. As a group, sell-side analysts predict that The Clorox Company will post 6.4 earnings per share for the current year.

Clorox Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be paid a dividend of $1.22 per share. The ex-dividend date is Tuesday, August 13th. This represents a $4.88 annualized dividend and a yield of 3.14%. This is a boost from Clorox’s previous quarterly dividend of $1.20. Clorox’s payout ratio is currently 252.85%.

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.