Aigen Investment Management LP Makes New $1.02 Million Investment in The Clorox Company (NYSE:CLX)

Key Points

• Aigen Investment Management LP acquired 6,939 shares of The Clorox Company, valued at approximately $1,022,000, marking the firm’s new position in the company.
• Clorox announced a quarterly dividend of $1.24 per share, which is an increase from the previous $1.22, reflecting a 4.0% yield.
• Despite exceeding earnings expectations with $2.87 per share for the last quarter, analysts have cut target prices, with Barclays setting a new target of $119.00 and maintaining an "underweight" rating.

Aigen Investment Management LP bought a new stake in The Clorox Company (NYSE:CLX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,939 shares of the company's stock, valued at approximately $1,022,000.

Other large investors also recently made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Clorox during the 4th quarter worth about $31,000. GKV Capital Management Co. Inc. bought a new position in Clorox during the fourth quarter valued at approximately $32,000. GW&K Investment Management LLC grew its position in Clorox by 239.1% in the first quarter. GW&K Investment Management LLC now owns 295 shares of the company's stock worth $43,000 after acquiring an additional 208 shares in the last quarter. Roble Belko & Company Inc increased its stake in shares of Clorox by 140.7% during the 1st quarter. Roble Belko & Company Inc now owns 361 shares of the company's stock worth $53,000 after purchasing an additional 211 shares during the last quarter. Finally, Menard Financial Group LLC acquired a new stake in shares of Clorox in the 4th quarter valued at $63,000. Institutional investors and hedge funds own 78.53% of the company's stock.

Clorox Trading Down 1.1%

CLX stock traded down $1.31 during midday trading on Thursday, hitting $121.58. 1,410,077 shares of the company's stock were exchanged, compared to its average volume of 1,640,551. The Clorox Company has a one year low of $117.35 and a one year high of $171.37. The stock's fifty day moving average price is $125.06 and its 200-day moving average price is $137.18. The company has a market cap of $14.87 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.49. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.84.

Clorox (NYSE:CLX - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.24 by $0.63. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. Clorox had a net margin of 11.40% and a return on equity of 377.86%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS. Research analysts predict that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.24 per share. This is a positive change from Clorox's previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.1%. Clorox's payout ratio is presently 74.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CLX shares. Morgan Stanley decreased their target price on Clorox from $150.00 to $137.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Evercore ISI set a $140.00 price target on Clorox and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their price objective on Clorox from $135.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Jefferies Financial Group decreased their target price on Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $135.00 price target (down from $140.00) on shares of Clorox in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $143.36.

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.