Bridges Investment Management Inc. Trims Stock Position in The Clorox Company (NYSE:CLX)

Bridges Investment Management Inc. lessened its stake in shares of The Clorox Company (NYSE:CLX - Free Report) by 24.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,651 shares of the company's stock after selling 2,121 shares during the period. Bridges Investment Management Inc.'s holdings in Clorox were worth $979,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brown Miller Wealth Management LLC purchased a new position in shares of Clorox in the first quarter worth about $399,000. Roman Butler Fullerton & Co. bought a new position in shares of Clorox in the first quarter valued at approximately $400,000. Wedge Capital Management L L P NC boosted its position in shares of Clorox by 33.5% in the first quarter. Wedge Capital Management L L P NC now owns 28,510 shares of the company's stock valued at $4,198,000 after acquiring an additional 7,159 shares during the period. Cornerstone Wealth Group LLC boosted its position in shares of Clorox by 19.0% in the first quarter. Cornerstone Wealth Group LLC now owns 25,582 shares of the company's stock valued at $3,767,000 after acquiring an additional 4,085 shares during the period. Finally, Alpine Bank Wealth Management bought a new position in shares of Clorox in the first quarter valued at approximately $478,000. Hedge funds and other institutional investors own 78.53% of the company's stock.

Clorox Price Performance

Shares of CLX stock traded down $1.29 during trading hours on Friday, hitting $126.55. 1,376,644 shares of the company's stock were exchanged, compared to its average volume of 1,414,094. The company has a market capitalization of $15.60 billion, a PE ratio of 22.72, a PEG ratio of 3.12 and a beta of 0.51. The Clorox Company has a 12-month low of $117.35 and a 12-month high of $171.37. The business's 50 day simple moving average is $128.28 and its 200-day simple moving average is $142.44. The company has a current ratio of 0.74, a quick ratio of 0.44 and a debt-to-equity ratio of 13.07.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.12). The business had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.74 billion. Clorox had a return on equity of 324.23% and a net margin of 9.89%. The company's revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $1.71 earnings per share. On average, equities research analysts anticipate that The Clorox Company will post 7.15 earnings per share for the current year.

Insider Activity at Clorox

In other news, Director Pierre R. Breber bought 4,000 shares of the firm's stock in a transaction that occurred on 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 purchase, the director directly owned 4,000 shares in the company, valued at $546,280. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CLX shares. Evercore ISI set a $140.00 price objective on shares of Clorox and gave the company an "underperform" rating in a research report on Tuesday, May 6th. UBS Group cut their price objective on shares of Clorox from $176.00 to $154.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Morgan Stanley cut their price objective on shares of Clorox from $165.00 to $150.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Clorox from $151.00 to $144.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their target price on shares of Clorox from $142.00 to $135.00 and set an "equal weight" rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $148.92.

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.