HFR Wealth Management LLC Sells 1,978 Shares of The Clorox Company (NYSE:CLX)

HFR Wealth Management LLC cut its position in The Clorox Company (NYSE:CLX) by 47.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,217 shares of the company’s stock after selling 1,978 shares during the quarter. HFR Wealth Management LLC’s holdings in Clorox were worth $326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new position in shares of Clorox in the fourth quarter valued at $31,000. GW&K Investment Management LLC grew its stake in shares of Clorox by 239.1% in the first quarter. GW&K Investment Management LLC now owns 295 shares of the company’s stock valued at $43,000 after buying an additional 208 shares in the last quarter. Roble Belko & Company Inc grew its stake in shares of Clorox by 140.7% in the first quarter. Roble Belko & Company Inc now owns 361 shares of the company’s stock valued at $53,000 after buying an additional 211 shares in the last quarter. IMA Advisory Services Inc. bought a new position in shares of Clorox in the first quarter valued at $58,000. Finally, Menard Financial Group LLC bought a new position in shares of Clorox in the fourth quarter valued at $63,000. 78.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CLX has been the subject of several analyst reports. Barclays decreased their target price on shares of Clorox from $129.00 to $119.00 and set an “underweight” rating for the company in a research note on Tuesday, July 15th. UBS Group reduced their price objective on shares of Clorox from $150.00 to $134.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. Jefferies Financial Group reduced their price objective on shares of Clorox from $167.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Morgan Stanley reduced their price objective on shares of Clorox from $150.00 to $137.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Clorox from $135.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $143.36.

Clorox Stock Up 0.5%

CLX opened at $122.17 on Friday. The Clorox Company has a fifty-two week low of $117.35 and a fifty-two week high of $171.37. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.84. The company has a market capitalization of $14.94 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.98 and a beta of 0.49. The stock has a fifty day moving average of $124.84 and a 200-day moving average of $136.49.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.63. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Clorox had a return on equity of 377.86% and a net margin of 11.40%. Clorox’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 earnings per share. On average, equities analysts expect that The Clorox Company will post 7.15 EPS for the current year.

Clorox Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.1%. This is a boost from Clorox’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Wednesday, August 13th. Clorox’s payout ratio is presently 76.07%.

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 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.