Beutel Goodman & Co Ltd. Makes New $163.04 Million Investment in The Clorox Company $CLX

Beutel Goodman & Co Ltd. bought a new position in The Clorox Company (NYSE:CLX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,012,569 shares of the company’s stock, valued at approximately $163,038,000.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Clorox during the second quarter valued at $958,640,000. Bank of America Corp DE purchased a new position in shares of Clorox in the 2nd quarter worth about $179,780,000. Bank of New York Mellon Corp purchased a new position in shares of Clorox in the 2nd quarter worth about $123,154,000. Equity Investment Corp bought a new position in Clorox in the 2nd quarter worth about $111,800,000. Finally, Deutsche Bank AG bought a new position in Clorox in the 2nd quarter worth about $68,473,000. 78.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CLX. Evercore raised shares of Clorox from an “underperform” rating to a “hold” rating and set a $99.00 price objective on the stock in a research report on Monday, November 2nd. Wells Fargo & Company lifted their target price on shares of Clorox from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 3rd. BNP Paribas Exane dropped their target price on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Barclays dropped their target price on shares of Clorox from $84.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, October 16th. Finally, UBS Group set a $88.00 price target on shares of Clorox in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Clorox has an average rating of “Reduce” and an average price target of $93.79.

Insider Transactions at Clorox

In related news, Director Pierre Breber purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were purchased at an average price of $100.06 per share, with a total value of $400,240.00. Following the acquisition, the director directly owned 22,000 shares in the company, valued at $2,201,320. The trade was a 22.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Clorox Stock Up 5.3%

CLX stock opened at $105.29 on Tuesday. The Clorox Company has a 1-year low of $79.12 and a 1-year high of $128.90. The business has a fifty day moving average price of $87.77 and a 200-day moving average price of $99.64. The company has a debt-to-equity ratio of 32.91, a current ratio of 0.65 and a quick ratio of 0.38. The stock has a market capitalization of $12.76 billion, a P/E ratio of 15.89, a P/E/G ratio of 3.22 and a beta of 0.59.

Clorox (NYSE:CLX) last released its quarterly earnings data on Monday, November 2nd. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.07 by $0.48. Clorox had a return on equity of 608.30% and a net margin of 9.41%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm posted $0.85 earnings per share. Clorox’s revenue was up 33.3% compared to the same quarter last year. Equities analysts forecast that The Clorox Company will post 5.75 earnings per share for the current fiscal year.

Clorox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Wednesday, October 28th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, October 28th. This represents a $5.00 annualized dividend and a yield of 4.7%. Clorox’s dividend payout ratio is currently 89.93%.

About Clorox

The Clorox Company is a consumer products company founded in 1913 and headquartered in Oakland, California. It makes and markets products for household cleaning, food, water filtration, personal care and pet care.

Its portfolio includes Clorox disinfecting and cleaning products, Glad trash bags and food-storage products, Kingsford charcoal, Brita water filters, Hidden Valley dressings and sauces, Burt’s Bees personal-care products, and Fresh Step cat litter. The company also sells products under brands such as Pine-Sol and Liquid-Plumr.

Clorox serves consumers primarily in the United States and also sells products in international markets.