Bank of New York Mellon Corp Makes New $123.15 Million Investment in The Clorox Company $CLX

Key Points

• Bank of New York Mellon acquired 1.29 million Clorox shares worth approximately $123.2 million, giving it a 1.07% stake. Institutional investors collectively own 78.53% of the company.
• Analyst sentiment remains cautious: Clorox has an average rating of “Reduce”, with 12 Hold and five Sell ratings and a consensus price target of $102.40.
• Clorox exceeded quarterly earnings and revenue estimates but reported year-over-year revenue and EPS declines. The company raised its quarterly dividend to $1.25, equating to a 4.7% annualized yield, though its payout ratio is above 100%.

Bank of New York Mellon Corp acquired a new position in shares of The Clorox Company (NYSE:CLX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,290,384 shares of the company's stock, valued at approximately $123,154,000. Bank of New York Mellon Corp owned 1.07% of Clorox as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CLX. State Street Corp increased its stake in Clorox by 3.5% in the third quarter. State Street Corp now owns 8,434,277 shares of the company's stock valued at $1,039,946,000 after purchasing an additional 282,794 shares in the last quarter. Invesco Ltd. boosted its position in shares of Clorox by 22.1% during the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company's stock worth $492,085,000 after purchasing an additional 884,751 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Clorox by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company's stock worth $318,613,000 after purchasing an additional 10,060 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Clorox by 15.7% in the 4th quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company's stock valued at $316,244,000 after buying an additional 426,433 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Clorox by 33.8% in the 3rd quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company's stock valued at $214,564,000 after buying an additional 439,797 shares during the period. Institutional investors own 78.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLX. Wall Street Zen downgraded Clorox from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Citigroup boosted their price objective on Clorox from $97.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Barclays reaffirmed an "underweight" rating and set a $84.00 target price on shares of Clorox in a research report on Tuesday, August 4th. BNP Paribas Exane cut their target price on Clorox from $97.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, July 20th. Finally, Evercore set a $99.00 price target on shares of Clorox in a research report on Tuesday, August 4th. Twelve analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $102.40.

Clorox Stock Performance

Shares of Clorox stock opened at $107.00 on Monday. The business's fifty day simple moving average is $98.97 and its 200 day simple moving average is $103.07. The firm has a market capitalization of $12.94 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 3.34 and a beta of 0.54. The Clorox Company has a 12 month low of $84.70 and a 12 month high of $128.90. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80.

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

Clorox Increases Dividend

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

Clorox Company 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.

Want to see what other hedge funds are holding CLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Clorox Company (NYSE:CLX - Free Report).

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