10,044,423 Shares in The Clorox Company $CLX Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 10.04 million Clorox shares worth approximately $958.6 million, giving it an 8.31% stake. Institutional investors collectively own 78.53% of the company.
• Clorox exceeded quarterly expectations with EPS of $1.66 versus $1.64 estimated and revenue of $1.95 billion, although revenue fell 2% year over year and EPS declined from $2.87.
• Clorox raised its quarterly dividend to $1.25, or $5.00 annually, producing a 4.7% yield. Analysts remain cautious, with the stock carrying an average “Reduce” rating and a $102.40 price target.

BlackRock Inc. purchased a new stake in The Clorox Company (NYSE:CLX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,044,423 shares of the company's stock, valued at approximately $958,640,000. BlackRock Inc. owned 8.31% of Clorox as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLX. Haverford Trust Co increased its stake in Clorox by 2.8% in the fourth quarter. Haverford Trust Co now owns 3,070 shares of the company's stock valued at $310,000 after purchasing an additional 84 shares in the last quarter. Field & Main Bank boosted its position in shares of Clorox by 3.3% during the 4th quarter. Field & Main Bank now owns 3,100 shares of the company's stock worth $313,000 after purchasing an additional 100 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Clorox by 28.2% during the 4th quarter. Golden State Wealth Management LLC now owns 454 shares of the company's stock worth $46,000 after purchasing an additional 100 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Clorox by 1.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 5,957 shares of the company's stock valued at $617,000 after buying an additional 104 shares during the period. Finally, Johnson Financial Group Inc. increased its position in Clorox by 3.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 3,659 shares of the company's stock valued at $451,000 after buying an additional 109 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors.

Clorox Stock Performance

NYSE CLX opened at $107.00 on Friday. The company has a market capitalization of $12.94 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 3.32 and a beta of 0.54. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The Clorox Company has a 52-week low of $84.70 and a 52-week high of $128.90. The company has a 50-day simple moving average of $98.97 and a 200 day simple moving average of $103.14.

Clorox (NYSE:CLX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $2.87 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, research analysts predict that The Clorox Company will post 5.8 EPS for the current year.

Clorox Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a yield of 4.7%. This is a boost from Clorox's previous quarterly dividend of $1.24. Clorox's dividend payout ratio is presently 103.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLX. Wall Street Zen lowered Clorox from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. The Goldman Sachs Group restated a "sell" rating and set a $83.00 price target on shares of Clorox in a research note on Friday, May 1st. Morgan Stanley lowered their price objective on shares of Clorox from $110.00 to $97.00 and set an "equal weight" rating on the stock in a report on Friday, May 1st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Clorox in a research note on Friday, July 10th. Finally, UBS Group lifted their price objective on shares of Clorox from $100.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Twelve analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, Clorox currently has an average rating of "Reduce" and an average price target of $102.40.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company's flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox's diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.

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