52,602 Shares in The Clorox Company $CLX Acquired by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management acquired 52,602 Clorox shares worth approximately $5.02 million during the second quarter. Institutional investors collectively own 78.53% of CLX, with several other funds also initiating positions.
• Clorox reported quarterly EPS of $1.66, slightly above estimates, while revenue reached $1.95 billion but declined 2% year over year. Shares opened at $107, up 0.9%.
• Clorox raised its quarterly dividend to $1.25, equivalent to a 4.7% annualized yield, but analysts remain cautious with a consensus “Reduce” rating and an average price target of $102.40.

Landscape Capital Management L.L.C. bought a new position in shares of The Clorox Company (NYSE:CLX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 52,602 shares of the company's stock, valued at approximately $5,020,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CLX. Korea Investment CORP acquired a new stake in shares of Clorox during the second quarter worth $13,344,000. EP Wealth Advisors LLC acquired a new position in shares of Clorox in the 2nd quarter valued at $796,000. Pinnacle West Asset Management Inc. purchased a new position in Clorox in the 2nd quarter worth $200,000. Keating Financial Advisory Services Inc. acquired a new stake in Clorox during the 2nd quarter worth about $35,000. Finally, OneAscent Financial Services LLC acquired a new stake in Clorox during the 2nd quarter worth about $204,000. Hedge funds and other institutional investors own 78.53% of the company's stock.

Clorox Stock Up 0.9%

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

Clorox (NYSE:CLX - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $1.66 EPS 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 firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $2.87 earnings per share. Clorox's revenue for the quarter was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, sell-side analysts predict that The Clorox Company will post 5.8 EPS for the current year.

Clorox Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLX. Barclays reissued an "underweight" rating and issued a $84.00 price objective on shares of Clorox in a report on Tuesday, August 4th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Clorox in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on shares of Clorox in a report on Tuesday, August 4th. Morgan Stanley decreased their price objective on shares of Clorox from $110.00 to $97.00 and set an "equal weight" rating for the company in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of Clorox from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. Twelve research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Clorox has a consensus rating of "Reduce" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source