Deutsche Bank AG Makes New Investment in The Clorox Company $CLX

Key Points

• Deutsche Bank acquired 717,442 Clorox shares worth approximately $68.5 million, giving it a 0.59% stake. Institutional investors collectively own 78.53% of the company.
• Clorox beat quarterly estimates with $1.66 in earnings per share and $1.95 billion in revenue, though revenue declined 2% year over year. The company also raised its quarterly dividend to $1.25 per share, representing a 4.7% annualized yield.
• Wall Street remains cautious: analysts’ consensus rating is “Reduce”, with a $102.40 target price, below the stock’s reported $106 trading price.

Deutsche Bank AG purchased a new stake in The Clorox Company (NYSE:CLX - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 717,442 shares of the company's stock, valued at approximately $68,473,000. Deutsche Bank AG owned about 0.59% of Clorox as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Perigon Wealth Management LLC acquired a new stake in shares of Clorox during the 2nd quarter worth $730,000. Commerzbank Aktiengesellschaft FI acquired a new position in Clorox in the second quarter valued at $1,540,000. Trust Co. of Vermont acquired a new position in Clorox in the second quarter valued at $1,122,000. Principle Wealth Partners LLC purchased a new stake in Clorox during the second quarter valued at about $461,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Clorox during the second quarter valued at about $32,769,000. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Trading Down 1.8%

NYSE:CLX opened at $106.00 on Friday. The business's 50-day moving average is $98.77 and its two-hundred day moving average is $103.11. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. The Clorox Company has a 12 month low of $84.70 and a 12 month high of $128.90. The firm has a market capitalization of $12.82 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 3.23 and a beta of 0.54.

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

Clorox Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CLX shares. Citigroup raised their price objective on Clorox from $97.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. BNP Paribas Exane decreased their target price on Clorox from $97.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Zacks Research downgraded shares of Clorox from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 12th. Jefferies Financial Group lowered shares of Clorox from a "buy" rating to a "hold" rating and cut their price target for the company from $125.00 to $98.00 in a report on Tuesday, July 28th. Finally, Barclays reaffirmed an "underweight" rating and set a $84.00 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 given a Sell rating to the stock. According to MarketBeat.com, Clorox has a consensus rating of "Reduce" and a consensus target price of $102.40.

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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