State of New Jersey Common Pension Fund D Decreases Holdings in The Clorox Company $CLX

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in The Clorox Company by 5.3%, selling 2,261 shares, and now holds 40,570 shares valued at approximately $5.97 million.
• Clorox recently announced a quarterly dividend increase to $1.24 per share, elevating its annualized yield to 4.1%.
• The stock is trading down 2.2%, with a current market cap of $14.62 billion and a consensus rating of "Hold" from market analysts.

State of New Jersey Common Pension Fund D lessened its position in shares of The Clorox Company (NYSE:CLX - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,570 shares of the company's stock after selling 2,261 shares during the period. State of New Jersey Common Pension Fund D's holdings in Clorox were worth $5,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in shares of Clorox during the first quarter valued at $247,000. Brown Miller Wealth Management LLC bought a new position in shares of Clorox in the 1st quarter worth $399,000. Roman Butler Fullerton & Co. purchased a new stake in Clorox during the 1st quarter valued at about $400,000. Wedge Capital Management L L P NC boosted its stake in shares of Clorox by 33.5% in the first quarter. Wedge Capital Management L L P NC now owns 28,510 shares of the company's stock worth $4,198,000 after buying an additional 7,159 shares during the last quarter. Finally, Cornerstone Wealth Group LLC raised its holdings in shares of Clorox by 19.0% during the first quarter. Cornerstone Wealth Group LLC now owns 25,582 shares of the company's stock valued at $3,767,000 after acquiring an additional 4,085 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CLX has been the subject of several research analyst reports. UBS Group lowered their price target on Clorox from $150.00 to $134.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Morgan Stanley dropped their price objective on Clorox from $150.00 to $137.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. JPMorgan Chase & Co. reduced their price target on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of Clorox from $135.00 to $138.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Evercore ISI set a $140.00 price objective on shares of Clorox and gave the company an "underperform" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $143.36.

Clorox Trading Up 0.3%

Shares of NYSE CLX traded up $0.3360 during midday trading on Friday, reaching $120.1760. The stock had a trading volume of 1,278,389 shares, compared to its average volume of 1,919,885. The company's 50 day moving average price is $124.25 and its 200 day moving average price is $135.37. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 0.96 and a beta of 0.49. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.84. The Clorox Company has a twelve month low of $117.35 and a twelve month high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.87 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.94 billion. During the same quarter last year, the business posted $1.82 EPS. Clorox's quarterly 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 expect that The Clorox Company will post 7.15 EPS for the current year.

Clorox Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, August 13th. This is a positive change from Clorox's previous quarterly dividend of $1.22. Clorox's payout ratio is 76.07%.

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.