Grimes & Company Inc. Makes New $8.73 Million Investment in The Clorox Company (NYSE:CLX)

Grimes & Company Inc. bought a new position in shares of The Clorox Company (NYSE:CLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 59,264 shares of the company's stock, valued at approximately $8,727,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its stake in shares of Clorox by 10.0% during the 1st quarter. QRG Capital Management Inc. now owns 2,492 shares of the company's stock worth $367,000 after acquiring an additional 226 shares in the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of Clorox by 22.2% during the 1st quarter. Precedent Wealth Partners LLC now owns 9,422 shares of the company's stock worth $1,387,000 after acquiring an additional 1,714 shares in the last quarter. Sowell Financial Services LLC boosted its stake in shares of Clorox by 2.2% during the 1st quarter. Sowell Financial Services LLC now owns 21,551 shares of the company's stock worth $3,173,000 after acquiring an additional 473 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Clorox by 5.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 115,552 shares of the company's stock worth $17,015,000 after acquiring an additional 6,277 shares in the last quarter. Finally, Mission Wealth Management LP boosted its stake in shares of Clorox by 3.6% during the 1st quarter. Mission Wealth Management LP now owns 7,653 shares of the company's stock worth $1,127,000 after acquiring an additional 268 shares in the last quarter. Institutional investors and hedge funds own 78.53% of the company's stock.

Insider Buying and Selling

In other news, Director Pierre R. Breber bought 4,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $136.57 per share, with a total value of $546,280.00. Following the transaction, the director now owns 4,000 shares of the company's stock, valued at $546,280. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group reduced their target price on Clorox from $176.00 to $154.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company lowered their target price on Clorox from $145.00 to $142.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on Clorox from $151.00 to $144.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Citigroup lowered their target price on Clorox from $165.00 to $150.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley lowered their target price on Clorox from $165.00 to $150.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $151.23.

Clorox Trading Up 0.6%

Shares of CLX opened at $123.82 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.60 and a debt-to-equity ratio of 20.52. The firm has a market capitalization of $15.26 billion, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 2.62 and a beta of 0.54. The stock's fifty day simple moving average is $134.66 and its 200 day simple moving average is $147.91. The Clorox Company has a twelve month low of $122.84 and a twelve month high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.12). The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.74 billion. Clorox had a return on equity of 316.87% and a net margin of 6.38%. The company's quarterly 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 forecast that The Clorox Company will post 7.15 earnings per share for the current year.

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.

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