Assenagon Asset Management S.A. Has $2.85 Million Stake in The Clorox Company $CLX

Key Points

• Assenagon Asset Management cut its Clorox stake by 31.6% in the second quarter, selling 13,761 shares and retaining 29,841 shares valued at approximately $2.85 million. Institutional investors and hedge funds own 78.53% of Clorox.
• Analyst sentiment remains cautious: Clorox has an average “Reduce” rating, with 12 Hold ratings and five Sell ratings, and a consensus price target of $102.40.
• Clorox exceeded quarterly earnings and revenue estimates but reported year-over-year declines. The company raised its quarterly dividend to $1.25, or $5.00 annually, yielding about 4.7%, though its payout ratio is above 100%.

Assenagon Asset Management S.A. reduced its holdings in The Clorox Company (NYSE:CLX - Free Report) by 31.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,841 shares of the company's stock after selling 13,761 shares during the period. Assenagon Asset Management S.A.'s holdings in Clorox were worth $2,848,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caitlin John LLC grew its stake in Clorox by 1,807.1% in the fourth quarter. Caitlin John LLC now owns 267 shares of the company's stock valued at $27,000 after purchasing an additional 253 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Clorox in the second quarter valued at $29,000. Root Financial Partners LLC grew its stake in shares of Clorox by 83.8% in the first quarter. Root Financial Partners LLC now owns 318 shares of the company's stock valued at $33,000 after buying an additional 145 shares in the last quarter. SHP Wealth Management bought a new stake in Clorox during the fourth quarter worth $35,000. Finally, Western Wealth Management LLC acquired a new stake in Clorox in the first quarter valued at $35,000. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLX. Zacks Research downgraded Clorox from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 12th. Jefferies Financial Group cut Clorox from a "buy" rating to a "hold" rating and cut their price objective for the company from $125.00 to $98.00 in a research report on Tuesday, July 28th. BNP Paribas Exane reduced their target price on Clorox from $97.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $98.00 target price on Clorox in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $83.00 price target on shares of Clorox in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $102.40.

Clorox Trading Up 0.8%

Shares of Clorox stock opened at $106.63 on Friday. 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 Clorox Company has a 12-month low of $84.70 and a 12-month high of $128.90. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 3.15 and a beta of 0.54. The firm's 50-day moving average price is $97.84 and its two-hundred day moving average price is $103.29.

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 business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $2.87 EPS. Clorox'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, analysts forecast that The Clorox Company will post 5.82 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 12th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.7%. 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. Clorox's payout ratio is currently 103.73%.

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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