Sun Sep 15 15:50:59 UTC 2024: ## Hedge Funds Show Interest in Clorox as Company Announces Dividend Increase

**New York, NY** – GHP Investment Advisors Inc. increased its stake in The Clorox Company (NYSE: CLX) by 2% during the second quarter, according to a recent SEC filing. This follows a trend of other hedge funds adjusting their positions in Clorox, with Van ECK Associates Corp significantly boosting its holdings by 1,715.5% and Nuance Investments LLC increasing its stake by 150.6%.

Clorox, a global manufacturer of consumer and professional products, recently announced a quarterly dividend increase, paying shareholders $1.22, up from $1.20 in the previous quarter. The company’s dividend payout ratio is currently 252.85%.

While Clorox’s stock opened at $166.27 on Friday, analysts’ opinions on the company are mixed. Deutsche Bank Aktiengesellschaft raised their price objective to $151.00, but Wells Fargo & Company lowered their target price to $130.00 and assigned an “underweight” rating. Overall, six analysts recommend selling, thirteen recommend holding, and the average price target stands at $143.50.

Despite the mixed outlook, Clorox’s strong institutional ownership (78.53%) suggests ongoing confidence in the company’s potential. Clorox remains a prominent player in the household goods market, with its various brands spanning cleaning products, professional services, and health and wellness products. The company operates globally through four segments: Health and Wellness, Household, Lifestyle, and International.

The recent activity from hedge funds and the dividend increase could indicate a positive outlook for Clorox in the coming months. However, investors should carefully consider the company’s performance and the mixed analyst opinions before making any investment decisions.

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