Barclays PLC Sells 216,340 Shares of The Clorox Company $CLX

Key Points

• Barclays PLC cut its stake in The Clorox Company by 35.4%, selling 216,340 shares and finishing the quarter with 395,438 shares worth about $48.76 million.
• Clorox announced a quarterly dividend of $1.24 per share (ex-dividend Apr 22, payable May 8), equal to a $4.96 annual payout and a 4.4% yield with a payout ratio near 81%.
• Analyst sentiment is tilted negative: MarketBeat shows a consensus rating of "Reduce" with a $118.73 target amid several recent price-target adjustments by major brokers.

Barclays PLC decreased its holdings in The Clorox Company (NYSE:CLX - Free Report) by 35.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395,438 shares of the company's stock after selling 216,340 shares during the period. Barclays PLC owned 0.32% of Clorox worth $48,758,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Clorox by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 15,845,496 shares of the company's stock valued at $1,902,569,000 after purchasing an additional 272,420 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Clorox by 138.3% in the 2nd quarter. Invesco Ltd. now owns 3,245,175 shares of the company's stock worth $389,648,000 after acquiring an additional 1,883,465 shares during the last quarter. Norges Bank purchased a new position in shares of Clorox during the 2nd quarter worth about $190,429,000. ProShare Advisors LLC grew its holdings in Clorox by 11.7% during the 3rd quarter. ProShare Advisors LLC now owns 1,297,016 shares of the company's stock valued at $159,922,000 after purchasing an additional 136,135 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Clorox by 218.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,249,127 shares of the company's stock worth $149,983,000 after purchasing an additional 856,873 shares during the period. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Clorox from $114.00 to $117.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Clorox from $114.00 to $112.00 and set a "hold" rating on the stock in a report on Wednesday, February 4th. Jefferies Financial Group lowered their price objective on shares of Clorox from $152.00 to $151.00 and set a "buy" rating for the company in a research report on Wednesday, February 4th. Barclays reaffirmed an "underweight" rating and set a $109.00 price target on shares of Clorox in a research note on Friday, January 16th. Finally, Weiss Ratings raised Clorox from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Clorox presently has a consensus rating of "Reduce" and a consensus target price of $118.73.

Clorox Price Performance

NYSE CLX opened at $113.54 on Tuesday. The company has a market cap of $13.73 billion, a PE ratio of 18.55, a P/E/G ratio of 0.56 and a beta of 0.59. The Clorox Company has a 52-week low of $96.66 and a 52-week high of $153.90. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74. The firm's 50 day moving average price is $114.77 and its 200-day moving average price is $113.49.

Clorox (NYSE:CLX - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.04). Clorox had a return on equity of 383.01% and a net margin of 11.17%.The company had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The firm's quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $4.96 dividend on an annualized basis and a yield of 4.4%. Clorox's dividend payout ratio (DPR) is presently 81.05%.

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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