Mengis Capital Management Inc. Boosts Stake in The Clorox Company $CLX

Key Points

• Mengis Capital Management Inc. increased its stake in The Clorox Company by 119.5% in the second quarter, holding 14,443 shares worth approximately $1.73 million at the end of the quarter.
• Clorox reported quarterly earnings of $2.87 EPS, exceeding the consensus estimate of $2.24, with a 4.5% year-over-year revenue increase to $1.99 billion.
• The company declared a quarterly dividend of $1.24 per share, representing a 4.1% yield, with an ex-dividend date set for October 22.

Mengis Capital Management Inc. grew its position in shares of The Clorox Company (NYSE:CLX - Free Report) by 119.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,443 shares of the company's stock after acquiring an additional 7,864 shares during the period. Mengis Capital Management Inc.'s holdings in Clorox were worth $1,734,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CLX. Hsbc Holdings PLC grew its holdings in shares of Clorox by 118.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,085,661 shares of the company's stock worth $159,699,000 after acquiring an additional 589,544 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Clorox by 101.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,083,723 shares of the company's stock worth $130,123,000 after purchasing an additional 546,761 shares in the last quarter. KBC Group NV boosted its position in shares of Clorox by 688.7% in the 1st quarter. KBC Group NV now owns 587,679 shares of the company's stock worth $86,535,000 after purchasing an additional 513,171 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Clorox by 412.1% in the 1st quarter. AQR Capital Management LLC now owns 598,758 shares of the company's stock worth $88,167,000 after purchasing an additional 481,846 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Clorox by 147.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 707,005 shares of the company's stock worth $104,107,000 after purchasing an additional 421,453 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company's stock.

Clorox Trading Up 0.3%

NYSE:CLX opened at $119.98 on Friday. The company has a debt-to-equity ratio of 5.15, a current ratio of 0.84 and a quick ratio of 0.57. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.52. The Clorox Company has a one year low of $116.53 and a one year high of $171.37. The business has a fifty day moving average price of $122.27 and a 200-day moving average price of $128.94.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.24 by $0.63. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Clorox had a return on equity of 377.86% and a net margin of 11.40%.Clorox's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. Clorox has set its FY 2026 guidance at 5.950-6.30 EPS. Sell-side analysts forecast that The Clorox Company will post 7.15 EPS for the current year.

Clorox Dividend Announcement

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

Insider Transactions at Clorox

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group dropped their price target on Clorox from $115.00 to $110.00 and set a "sell" rating on the stock in a research report on Wednesday, October 1st. Bank of America lowered their price objective on Clorox from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday. UBS Group lowered their price objective on Clorox from $134.00 to $128.00 and set a "neutral" rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered their price objective on Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, TD Cowen lowered their price objective on Clorox from $120.00 to $117.00 and set a "hold" rating on the stock in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $132.54.

Clorox 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.

Want to see what other hedge funds are holding CLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Clorox Company (NYSE:CLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.