Empowered Funds LLC Sells 23,182 Shares of The Clorox Company $CLX

Key Points

• Empowered Funds LLC reduced its Clorox stake by 67.2% in the first quarter, selling 23,182 shares and retaining 11,320 shares valued at approximately $1.17 million. Institutional investors collectively own 78.53% of Clorox.
• Clorox exceeded quarterly expectations with earnings of $1.66 per share and revenue of $1.95 billion, though revenue declined 2% year over year. The company raised its quarterly dividend to $1.25, equivalent to a 4.8% annualized yield.
• Analyst sentiment remains cautious, with the stock carrying an average “Reduce” rating and a consensus price target of $102.40, below its recent $105.24 price.

Empowered Funds LLC cut its stake in The Clorox Company (NYSE:CLX - Free Report) by 67.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,320 shares of the company's stock after selling 23,182 shares during the period. Empowered Funds LLC's holdings in Clorox were worth $1,173,000 at the end of the most recent reporting period.

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

Clorox Price Performance

CLX opened at $105.24 on Friday. The Clorox Company has a one year low of $84.70 and a one year high of $128.90. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.65. The company's 50 day simple moving average is $96.41 and its 200-day simple moving average is $103.46. The stock has a market capitalization of $12.73 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 3.13 and a beta of 0.54.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business posted $2.87 earnings per share. Clorox's revenue for the quarter was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Sell-side analysts anticipate that The Clorox Company will post 5.82 earnings per share for the current fiscal year.

Clorox Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 12th will be paid a $1.25 dividend. This is an increase 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 dividend yield of 4.8%. Clorox's payout ratio is 102.90%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CLX. Citigroup lifted their price target on shares of Clorox from $97.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on shares of Clorox in a research note on Tuesday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Clorox in a report on Friday, July 10th. Jefferies Financial Group cut shares of Clorox from a "buy" rating to a "hold" rating and cut their target price for the company from $125.00 to $98.00 in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $83.00 target price on shares of Clorox in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Clorox currently has an average rating of "Reduce" and a consensus price target of $102.40.

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.

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