Russell Investments Group Ltd. Sells 22,759 Shares of The Clorox Company $CLX

Key Points

• Russell Investments trimmed its Clorox stake by 8.8%, selling 22,759 shares and leaving it with 236,727 shares worth about $29.19 million (≈0.19% ownership).
• Analyst sentiment is weak — Clorox has a consensus rating of "Reduce" with an average price target of $118.73 after several firms cut targets and issued underperform/hold ratings.
• Clorox announced a quarterly dividend of $1.24 (annualized $4.96, ~4.6% yield, ex-dividend Apr 22, payable May 8); recent quarterly results showed an EPS miss ($1.39 vs. $1.43) while revenue slightly beat estimates.

Russell Investments Group Ltd. trimmed its position in The Clorox Company (NYSE:CLX - Free Report) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,727 shares of the company's stock after selling 22,759 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of Clorox worth $29,186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLX. Canandaigua National Bank & Trust Co. boosted its stake in shares of Clorox by 0.8% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 11,196 shares of the company's stock valued at $1,380,000 after purchasing an additional 94 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Clorox by 1.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,053 shares of the company's stock worth $746,000 after buying an additional 102 shares during the period. Blue Trust Inc. raised its stake in shares of Clorox by 8.5% during the third quarter. Blue Trust Inc. now owns 1,333 shares of the company's stock worth $164,000 after buying an additional 104 shares during the last quarter. Westhampton Capital LLC lifted its holdings in Clorox by 0.5% in the third quarter. Westhampton Capital LLC now owns 23,150 shares of the company's stock valued at $2,854,000 after buying an additional 107 shares during the period. Finally, Parvin Asset Management LLC lifted its holdings in Clorox by 5.7% in the second quarter. Parvin Asset Management LLC now owns 2,035 shares of the company's stock valued at $244,000 after buying an additional 109 shares during the period. 78.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CLX has been the subject of a number of analyst reports. Evercore lowered their target price on shares of Clorox from $132.00 to $115.00 and set an "underperform" rating for the company in a report on Wednesday, February 4th. Citigroup raised their price target on Clorox from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Weiss Ratings raised Clorox from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Clorox from $114.00 to $112.00 and set a "hold" rating for the company in a research note on Wednesday, February 4th. Finally, Barclays reiterated an "underweight" rating and issued a $109.00 price objective on shares of Clorox in a report on Friday, January 16th. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Clorox has a consensus rating of "Reduce" and an average price target of $118.73.

Clorox Price Performance

NYSE CLX opened at $108.72 on Friday. 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 stock has a market cap of $13.15 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.55 and a beta of 0.59. The business has a 50 day simple moving average of $115.46 and a 200 day simple moving average of $113.42. The Clorox Company has a 52-week low of $96.66 and a 52-week high of $150.84.

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

Clorox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 22nd. Clorox's payout ratio is currently 81.05%.

Clorox 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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