KLP Kapitalforvaltning AS Cuts Holdings in The Clorox Company $CLX

Key Points

• KLP Kapitalforvaltning AS has reduced its holdings in The Clorox Company (CLX) by 5.5%, bringing their total shares to 41,224, valued at approximately $4.95 million.
• Clorox reported $2.87 EPS for the last quarter, exceeding the expected $2.24, and revenues rose by 4.5% year-over-year to $1.99 billion.
• The company announced a quarterly dividend of $1.24 per share, reflecting a 4.1% yield, with the payment scheduled for November 6th.

KLP Kapitalforvaltning AS decreased its position in The Clorox Company (NYSE:CLX - Free Report) by 5.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,224 shares of the company's stock after selling 2,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Clorox were worth $4,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLX. Hsbc Holdings PLC increased its holdings in Clorox by 118.8% in the first quarter. Hsbc Holdings PLC now owns 1,085,661 shares of the company's stock valued at $159,699,000 after buying an additional 589,544 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Clorox by 101.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,083,723 shares of the company's stock valued at $130,123,000 after buying an additional 546,761 shares in the last quarter. KBC Group NV increased its holdings in Clorox by 688.7% in the first quarter. KBC Group NV now owns 587,679 shares of the company's stock valued at $86,535,000 after buying an additional 513,171 shares in the last quarter. AQR Capital Management LLC increased its holdings in Clorox by 412.1% in the first quarter. AQR Capital Management LLC now owns 598,758 shares of the company's stock valued at $88,167,000 after buying an additional 481,846 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Clorox by 147.6% in the first quarter. Goldman Sachs Group Inc. now owns 707,005 shares of the company's stock valued at $104,107,000 after buying an additional 421,453 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company's stock.

Clorox Stock Up 0.1%

Shares of NYSE CLX opened at $120.14 on Friday. The Clorox Company has a 12-month low of $116.53 and a 12-month high of $171.37. The stock has a market cap of $14.63 billion, a PE ratio of 18.43, a P/E/G ratio of 0.98 and a beta of 0.52. 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 $122.21 and a 200 day moving average of $128.79.

Clorox (NYSE:CLX - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.40% and a return on equity of 377.86%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the prior year, the company earned $1.82 EPS. Clorox's revenue was up 4.5% compared to the same quarter last year. Clorox has set its FY 2026 guidance at 5.950-6.30 EPS. As a group, sell-side analysts predict that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Wednesday, October 22nd will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, October 22nd. Clorox's dividend payout ratio is currently 76.07%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CLX shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Clorox in a report on Saturday, September 27th. Zacks Research upgraded shares of Clorox from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. 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, August 1st. Barclays reduced their price target on shares of Clorox from $118.00 to $112.00 and set an "underweight" rating for the company in a research report on Tuesday, September 30th. Finally, The Goldman Sachs Group reduced their price target on shares of Clorox from $115.00 to $110.00 and set a "sell" rating for the company in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $131.92.

Insider Transactions at Clorox

In related news, COO Eric H. Reynolds sold 15,041 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $123.78, for a total transaction of $1,861,774.98. Following the completion of the sale, the chief operating officer owned 54,221 shares of the company's stock, valued at approximately $6,711,475.38. This represents a 21.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.57% of the company's stock.

Clorox Company Profile

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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