Alberta Investment Management Corp Has $4.12 Million Position in The Clorox Company (NYSE:CLX)

Key Points

• Alberta Investment Management Corp increased its stake in The Clorox Company by 8.9%, owning 28,000 shares worth approximately $4.12 million as of its latest SEC filing.
• Clorox recently announced a quarterly dividend increase to $1.24 per share, marking a rise from the previous $1.22 and reflecting a 4.0% annualized yield.
• Wells Fargo & Company raised its price target for Clorox shares from $135 to $138, maintaining an "equal weight" rating amidst varied analyst ratings ranging from "buy" to "underweight."

Alberta Investment Management Corp boosted its position in shares of The Clorox Company (NYSE:CLX - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,000 shares of the company's stock after purchasing an additional 2,300 shares during the quarter. Alberta Investment Management Corp's holdings in Clorox were worth $4,123,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in Clorox during the fourth quarter valued at approximately $26,000. Wood Tarver Financial Group LLC acquired a new position in Clorox during the fourth quarter valued at approximately $31,000. GKV Capital Management Co. Inc. acquired a new position in Clorox during the fourth quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Clorox in the fourth quarter valued at approximately $33,000. Finally, GW&K Investment Management LLC boosted its holdings 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 during the period. Institutional investors and hedge funds own 78.53% of the company's stock.

Wall Street Analyst Weigh In

CLX has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Clorox from $135.00 to $138.00 and gave the company an "equal weight" rating in a report on Friday. Evercore ISI set a $140.00 price target on shares of Clorox and gave the company an "underperform" rating in a report on Tuesday, May 6th. Citigroup reiterated a "neutral" rating and issued a $135.00 price target (down previously from $140.00) on shares of Clorox in a report on Tuesday, July 15th. Barclays reduced their target price on shares of Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a report on Tuesday, July 15th. Finally, Jefferies Financial Group reduced their target price on shares of Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Three equities 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $143.36.

Insider Buying and Selling at Clorox

In related news, Director Pierre R. Breber acquired 4,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $136.57 per share, with a total value of $546,280.00. Following the completion of the transaction, the director directly owned 4,000 shares of the company's stock, valued at $546,280. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.57% of the stock is owned by insiders.

Clorox Stock Performance

NYSE CLX opened at $123.06 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.44 and a debt-to-equity ratio of 13.07. The firm's fifty day moving average price is $126.07 and its two-hundred day moving average price is $139.01. The Clorox Company has a 1 year low of $117.35 and a 1 year high of $171.37. The firm has a market capitalization of $15.17 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 3.46 and a beta of 0.49.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.63. Clorox had a net margin of 11.40% and a return on equity of 538.72%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $1.82 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that The Clorox Company will post 7.15 EPS for the current year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be given a $1.24 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This is a boost from Clorox's previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a dividend yield of 4.0%. Clorox's payout ratio is currently 87.61%.

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.

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