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The Clorox Company (NYSE:CLX) Holdings Lifted by Federated Hermes Inc.

Clorox logo with Consumer Staples background

Key Points

  • Federated Hermes Inc. increased its investment in The Clorox Company by 16.4%, owning approximately 0.28% of the company worth $50 million as of the end of the first quarter.
  • Clorox reported earnings of $1.45 per share in its latest quarterly results, missing expectations and reflecting an 8% year-over-year revenue decline.
  • The company announced a quarterly dividend of $1.24 per share, increasing from the previous $1.22, with an annualized yield of 3.93%.
  • Looking to export and analyze Clorox data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Federated Hermes Inc. increased its stake in The Clorox Company (NYSE:CLX - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,801 shares of the company's stock after acquiring an additional 47,751 shares during the period. Federated Hermes Inc. owned approximately 0.28% of Clorox worth $50,036,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. N.E.W. Advisory Services LLC purchased a new position in shares of Clorox during the first quarter worth about $120,000. Mackenzie Financial Corp boosted its holdings in Clorox by 8.4% in the 1st quarter. Mackenzie Financial Corp now owns 14,597 shares of the company's stock valued at $2,149,000 after purchasing an additional 1,133 shares in the last quarter. Carrera Capital Advisors boosted its holdings in Clorox by 15.9% in the 1st quarter. Carrera Capital Advisors now owns 20,365 shares of the company's stock valued at $2,999,000 after purchasing an additional 2,795 shares in the last quarter. Ridgewood Investments LLC boosted its holdings in Clorox by 194.1% in the 1st quarter. Ridgewood Investments LLC now owns 2,250 shares of the company's stock valued at $331,000 after purchasing an additional 1,485 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Clorox by 12.7% during the 1st quarter. LPL Financial LLC now owns 334,041 shares of the company's stock valued at $49,188,000 after acquiring an additional 37,538 shares during the period. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLX has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Clorox from $150.00 to $137.00 and set an "equal weight" rating for the company in a research report on Friday. UBS Group reduced their price target on shares of Clorox from $150.00 to $134.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Wells Fargo & Company lifted their price objective on Clorox from $135.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Citigroup restated a "neutral" rating and set a $135.00 price objective (down from $140.00) on shares of Clorox in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $143.36.

Check Out Our Latest Report on Clorox

Insider Activity

In related news, Director Pierre R. Breber bought 4,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $136.57 per share, for a total transaction of $546,280.00. Following the purchase, the director owned 4,000 shares in the company, valued at $546,280. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.57% of the company's stock.

Clorox Stock Up 1.8%

NYSE:CLX traded up $2.16 on Monday, reaching $125.26. The stock had a trading volume of 954,852 shares, compared to its average volume of 1,631,733. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. The company has a 50-day moving average of $126.07 and a 200 day moving average of $138.86. The stock has a market cap of $15.44 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 3.64 and a beta of 0.49. The Clorox Company has a 12-month low of $117.35 and a 12-month high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $2.24 by $0.63. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.94 billion. Clorox had a net margin of 11.40% and a return on equity of 377.86%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 EPS. On average, research analysts predict that The Clorox Company will post 7.15 earnings per share for the current year.

Clorox Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be paid a $1.24 dividend. This is a boost from Clorox's previous quarterly dividend of $1.22. The ex-dividend date is Wednesday, August 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.0%. Clorox's dividend payout ratio (DPR) is currently 74.85%.

Clorox Profile

(Free Report)

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.

See Also

Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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