Mengis Capital Management Inc. Grows Position in The Clorox Company $CLX

Key Points

• Mengis Capital Management Inc. increased its stake in The Clorox Company by 138.1% in Q3 to 34,383 shares (about $4.24M), while other institutions—including Vanguard, Invesco, Arrowstreet and Norges Bank—also added positions, leaving institutional ownership at 78.53%.
• Clorox recorded a slight EPS miss ($1.39 vs. $1.43 est.) and revenue of $1.67B (down 0.8% YoY), trades around $117.48 with a $14.2B market cap and 19.2 PE, and pays a quarterly dividend of $1.24 (annual $4.96, ~4.2% yield, ex-dividend Apr 22); analysts carry a consensus "Reduce" rating with a $118.73 target.

Mengis Capital Management Inc. raised its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 138.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 34,383 shares of the company's stock after purchasing an additional 19,940 shares during the period. Mengis Capital Management Inc.'s holdings in Clorox were worth $4,239,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Clorox by 1.7% during the second quarter. Vanguard Group Inc. now owns 15,845,496 shares of the company's stock valued at $1,902,569,000 after purchasing an additional 272,420 shares in the last quarter. Invesco Ltd. lifted its holdings in Clorox by 138.3% during the second quarter. Invesco Ltd. now owns 3,245,175 shares of the company's stock worth $389,648,000 after buying an additional 1,883,465 shares during the period. Norges Bank bought a new stake in Clorox during the 2nd quarter valued at $190,429,000. ProShare Advisors LLC boosted its position in Clorox by 11.7% during the 3rd quarter. ProShare Advisors LLC now owns 1,297,016 shares of the company's stock valued at $159,922,000 after acquiring an additional 136,135 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Clorox by 218.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,249,127 shares of the company's stock valued at $149,983,000 after acquiring an additional 856,873 shares during the period. Institutional investors own 78.53% of the company's stock.

Clorox Price Performance

Shares of NYSE CLX opened at $117.48 on Thursday. The Clorox Company has a fifty-two week low of $96.66 and a fifty-two week high of $153.90. The company has a market cap of $14.20 billion, a PE ratio of 19.20, a P/E/G ratio of 0.60 and a beta of 0.59. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74. The business has a 50-day simple moving average of $113.85 and a two-hundred day simple moving average of $113.67.

Clorox (NYSE:CLX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.04). The company had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.64 billion. Clorox had a net margin of 11.17% and a return on equity of 383.01%. The business's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, equities analysts expect that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Wednesday, April 22nd will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, April 22nd. Clorox's payout ratio is presently 81.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded Clorox from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Citigroup boosted their target price on shares of Clorox from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Wednesday, February 4th. Morgan Stanley increased their price target on shares of Clorox from $125.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, February 5th. The Goldman Sachs Group lowered their price target on shares of Clorox from $110.00 to $94.00 and set a "sell" rating on the stock in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Clorox from $114.00 to $112.00 and set a "hold" rating for the company in a research note on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $118.73.

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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