Azimuth Capital Investment Management LLC Sells 34,250 Shares of The Clorox Company $CLX

Key Points

• Azimuth Capital Investment Management cut its Clorox position by 53.4% in the second quarter, selling 34,250 shares and retaining 29,923 shares valued at approximately $2.86 million. Institutional investors collectively own 78.53% of CLX.
• Analyst sentiment remains cautious: Clorox has a consensus rating of “Reduce”, with 12 Hold and five Sell ratings and an average price target of $102.40.
• Clorox exceeded quarterly earnings and revenue estimates, reporting $1.66 in EPS and $1.95 billion in revenue, but revenue declined 2% year over year. The company raised its quarterly dividend to $1.25 per share, representing a 5.4% annualized yield.

Azimuth Capital Investment Management LLC lessened its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 53.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,923 shares of the company's stock after selling 34,250 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Clorox were worth $2,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caitlin John LLC increased 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 acquiring an additional 253 shares during the last quarter. Ancora Advisors LLC bought a new stake in Clorox during the second quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in shares of Clorox in the 2nd quarter worth about $29,000. Avalon Trust Co bought a new position in shares of Clorox during the 2nd quarter valued at about $29,000. Finally, Markowski Investments purchased a new position in shares of Clorox during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 78.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CLX. Wells Fargo & Company upped their target price on Clorox from $95.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 4th. Zacks Research downgraded shares of Clorox from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 12th. Jefferies Financial Group lowered shares of Clorox from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $125.00 to $98.00 in a report on Tuesday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of Clorox from $92.00 to $95.00 and gave the company an "underweight" rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Clorox from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Twelve analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $102.40.

Clorox Stock Performance

NYSE:CLX opened at $93.05 on Monday. 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 fifty-two week low of $84.70 and a fifty-two week high of $128.90. The firm has a market cap of $11.25 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The business has a 50 day moving average price of $99.89 and a 200-day moving average price of $101.55.

Clorox (NYSE:CLX - Get Free Report) last issued 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 net margin of 8.74% and a return on equity of 522.23%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm earned $2.87 earnings per share. 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. Equities research analysts predict that The Clorox Company will post 5.8 earnings per share for the current year.

Clorox Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Wednesday, August 12th were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a yield of 5.4%. This is a boost from Clorox's previous quarterly dividend of $1.24. Clorox's dividend payout ratio (DPR) is presently 103.73%.

Clorox Profile

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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