Kinloch Capital LLC Purchases Shares of 43,277 The Clorox Company $CLX

Key Points

• Kinloch Capital acquired 43,277 Clorox shares worth approximately $4.13 million in the second quarter, while institutional investors collectively own 78.53% of CLX.
• Clorox exceeded quarterly expectations with adjusted EPS of $1.66 and revenue of $1.95 billion, although revenue declined 2% year over year and EPS fell from $2.87 in the prior-year quarter.
• The company raised its quarterly dividend to $1.25, or $5.00 annually, producing a 4.7% yield; however, analysts maintain a broadly negative outlook, with a consensus “Reduce” rating and a $102.40 target price.

Kinloch Capital LLC acquired a new position in shares of The Clorox Company (NYSE:CLX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 43,277 shares of the company's stock, valued at approximately $4,130,000.

A number of other institutional investors also recently made changes to their positions in CLX. Wilkins Investment Counsel Inc. raised its stake in Clorox by 250.6% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 55,064 shares of the company's stock worth $5,552,000 after purchasing an additional 39,360 shares in the last quarter. Morningstar Investment Management LLC grew its position in shares of Clorox by 131.8% during the 4th quarter. Morningstar Investment Management LLC now owns 62,454 shares of the company's stock worth $6,297,000 after purchasing an additional 35,506 shares in the last quarter. Bank of America Corp DE grew its position in shares of Clorox by 6.1% during the 1st quarter. Bank of America Corp DE now owns 1,405,774 shares of the company's stock worth $145,680,000 after purchasing an additional 80,618 shares in the last quarter. National Pension Service increased its holdings in shares of Clorox by 68.9% during the fourth quarter. National Pension Service now owns 27,537 shares of the company's stock worth $2,777,000 after purchasing an additional 11,233 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Clorox during the fourth quarter worth approximately $1,966,000. Institutional investors own 78.53% of the company's stock.

Clorox Price Performance

CLX stock opened at $107.20 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. The company's fifty day simple moving average is $99.20 and its 200 day simple moving average is $103.01. The Clorox Company has a 12-month low of $84.70 and a 12-month high of $128.90. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 3.34 and a beta of 0.54.

Clorox (NYSE:CLX - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, analysts expect that The Clorox Company will post 5.8 earnings per share for the current year.

Clorox Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th will be issued a $1.25 dividend. The ex-dividend date is Wednesday, August 12th. This is a positive change from Clorox's previous quarterly dividend of $1.24. This represents a $5.00 dividend on an annualized basis and a yield of 4.7%. Clorox's dividend payout ratio is 103.73%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CLX shares. Wall Street Zen cut Clorox from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. increased their price target on shares of Clorox from $92.00 to $95.00 and gave the stock an "underweight" rating in a research 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 on the stock in a research report on Monday, July 20th. Zacks Research cut shares of Clorox from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 12th. Finally, Barclays reaffirmed an "underweight" rating and issued a $84.00 price objective on shares of Clorox in a research note on Tuesday, August 4th. Twelve investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Clorox currently has a consensus rating of "Reduce" and a consensus target price 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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