Legal & General Group Plc Reduces Stake in The Clorox Company $CLX

Key Points

• Legal & General Group Plc cut its Clorox stake by 33.9% in the fourth quarter, selling 350,762 shares and ending with 683,533 shares valued at about $68.9 million.
• Clorox reported better-than-expected earnings for the quarter, posting $1.64 EPS versus the $1.55 estimate, while revenue came in line at $1.67 billion.
• The stock has been under pressure, opening at $89.98 and trading well below its 50-day and 200-day moving averages; analysts currently have a “Reduce” consensus with an average price target of $103.40.

Legal & General Group Plc lowered its position in The Clorox Company (NYSE:CLX - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 683,533 shares of the company's stock after selling 350,762 shares during the period. Legal & General Group Plc owned approximately 0.57% of Clorox worth $68,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Field & Main Bank boosted its position in Clorox by 3.3% in the fourth quarter. Field & Main Bank now owns 3,100 shares of the company's stock valued at $313,000 after buying an additional 100 shares during the last quarter. Fisher Asset Management LLC boosted its position in Clorox by 1.7% in the third quarter. Fisher Asset Management LLC now owns 6,053 shares of the company's stock valued at $746,000 after buying an additional 102 shares during the last quarter. Johnson Financial Group Inc. boosted its position in Clorox by 3.1% in the third quarter. Johnson Financial Group Inc. now owns 3,659 shares of the company's stock valued at $451,000 after buying an additional 109 shares during the last quarter. State of Wyoming boosted its position in Clorox by 4.7% in the second quarter. State of Wyoming now owns 2,540 shares of the company's stock valued at $305,000 after buying an additional 113 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Clorox by 12.5% in the third quarter. EverSource Wealth Advisors LLC now owns 1,099 shares of the company's stock valued at $136,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 78.53% of the company's stock.

Insider Buying and Selling

In other news, Director Pierre R. Breber acquired 5,000 shares of Clorox stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $85.82 per share, with a total value of $429,100.00. Following the purchase, the director owned 18,000 shares in the company, valued at $1,544,760. This trade represents a 38.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.63% of the company's stock.

Clorox Trading Down 6.5%

Shares of CLX stock opened at $89.98 on Friday. The company has a debt-to-equity ratio of 27.03, a current ratio of 0.84 and a quick ratio of 0.65. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.50 and a beta of 0.59. The stock has a 50 day simple moving average of $98.46 and a 200-day simple moving average of $105.81. The Clorox Company has a 1-year low of $84.70 and a 1-year high of $132.03.

Clorox (NYSE:CLX - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.67 billion. Clorox had a return on equity of 443.64% and a net margin of 11.18%.The business's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 EPS. Clorox has set its FY 2026 guidance at 5.450-5.650 EPS. On average, equities research analysts expect that The Clorox Company will post 5.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CLX shares. Zacks Research downgraded Clorox from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. Rothschild & Co Redburn set a $117.00 price target on Clorox in a report on Friday, February 13th. Morgan Stanley decreased their price target on Clorox from $110.00 to $97.00 and set an "equal weight" rating for the company in a report on Friday, May 1st. JPMorgan Chase & Co. decreased their price target on Clorox from $99.00 to $95.00 and set an "underweight" rating for the company in a report on Friday, May 1st. Finally, Citigroup decreased their price target on Clorox from $110.00 to $97.00 and set a "neutral" rating for the company in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $103.40.

About Clorox

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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