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Jefferies Financial Group Inc. Lowers Position in The Clorox Company (NYSE:CLX)

Clorox logo with Consumer Staples background

Key Points

  • Jefferies Financial Group Inc. significantly reduced its stake in The Clorox Company, selling 26,792 shares to hold only 1,435 shares, representing a decrease of 94.9% in the first quarter.
  • The Clorox Company recently announced a dividend increase to $1.24 per share, up from $1.22, reflecting an annual yield of 4.0% and a dividend payout ratio of 74.85%.
  • Clorox's latest earnings report revealed an EPS of $2.87, surpassing analysts' expectations, with revenue of $1.99 billion, up 4.5% from the previous year.
  • Need Better Tools to Track Clorox? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Jefferies Financial Group Inc. lessened its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 94.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,435 shares of the company's stock after selling 26,792 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Clorox were worth $211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Redwood Park Advisors LLC acquired a new position in Clorox during the 4th quarter worth $26,000. Wood Tarver Financial Group LLC acquired a new stake in Clorox in the 4th quarter worth approximately $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of Clorox during the fourth quarter worth approximately $32,000. GW&K Investment Management LLC lifted its holdings in shares of Clorox by 239.1% during the first quarter. GW&K Investment Management LLC now owns 295 shares of the company's stock worth $43,000 after buying an additional 208 shares during the last quarter. Finally, Roble Belko & Company Inc increased its position in shares of Clorox by 140.7% during the first quarter. Roble Belko & Company Inc now owns 361 shares of the company's stock valued at $53,000 after purchasing an additional 211 shares during the period. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on CLX shares. Citigroup reiterated a "neutral" rating and issued a $135.00 price target (down from $140.00) on shares of Clorox in a research report on Tuesday, July 15th. Wells Fargo & Company upped their price target on Clorox from $135.00 to $138.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Morgan Stanley decreased their target price on Clorox from $150.00 to $137.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Evercore ISI set a $140.00 target price on Clorox and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their target price on Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Clorox presently has an average rating of "Hold" and an average price target of $143.36.

Check Out Our Latest Analysis on CLX

Clorox Trading Down 0.9%

Shares of CLX traded down $1.19 during trading hours on Friday, hitting $124.89. 1,299,586 shares of the stock traded hands, compared to its average volume of 1,869,570. 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 Clorox Company has a 1-year low of $117.35 and a 1-year high of $171.37. The firm has a market capitalization of $15.39 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.00 and a beta of 0.49. The business has a fifty day moving average of $125.51 and a 200-day moving average of $137.64.

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

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.96 annualized dividend and a yield of 4.0%. This is a boost from Clorox's previous quarterly dividend of $1.22. Clorox's payout ratio is presently 74.85%.

About Clorox

(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.

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Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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