Swiss National Bank Trims Stock Holdings in The Clorox Company $CLX

Key Points

• Swiss National Bank trimmed its stake in The Clorox Company by 4.6% in the third quarter, selling 17,300 shares to hold 355,200 shares (about 0.29%) valued at roughly $43.8 million.
• Other institutions repositioned heavily — Vanguard holds ~15.85 million shares, Invesco increased its stake by 1.88 million shares (up 138.3%), and Norges Bank initiated a ~ $190 million position; institutional ownership is about 78.5%.
• Clorox shares were down ~3.1% after reporting an EPS miss ($1.39 vs. $1.43) and a 0.8% YoY revenue decline; the company declared a quarterly dividend of $1.24 (annualized $4.96, yield 4.6%) and has a consensus MarketBeat rating of "Reduce" with a $118.73 target.

Swiss National Bank lowered its stake in The Clorox Company (NYSE:CLX - Free Report) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,200 shares of the company's stock after selling 17,300 shares during the quarter. Swiss National Bank owned about 0.29% of Clorox worth $43,796,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Clorox by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,845,496 shares of the company's stock valued at $1,902,569,000 after acquiring an additional 272,420 shares during the period. Invesco Ltd. increased its holdings in Clorox by 138.3% in the 2nd quarter. Invesco Ltd. now owns 3,245,175 shares of the company's stock valued at $389,648,000 after purchasing an additional 1,883,465 shares during the last quarter. Norges Bank acquired a new stake in Clorox in the 2nd quarter valued at approximately $190,429,000. ProShare Advisors LLC raised its position in Clorox by 11.7% in the third quarter. ProShare Advisors LLC now owns 1,297,016 shares of the company's stock valued at $159,922,000 after purchasing an additional 136,135 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Clorox by 218.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,249,127 shares of the company's stock worth $149,983,000 after purchasing an additional 856,873 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLX. Wells Fargo & Company set a $125.00 price target on Clorox in a research report on Tuesday, February 17th. Morgan Stanley increased their target price on Clorox from $125.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 5th. Royal Bank Of Canada set a $132.00 target price on Clorox in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their target price on Clorox from $114.00 to $112.00 and set a "hold" rating for the company in a research report on Wednesday, February 4th. Finally, TD Cowen boosted their price target on shares of Clorox from $108.00 to $111.00 and gave the stock a "hold" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Clorox has a consensus rating of "Reduce" and a consensus target price of $118.73.

Clorox Stock Down 3.1%

Shares of Clorox stock opened at $108.72 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.74 and a debt-to-equity ratio of 71.03. The Clorox Company has a 52-week low of $96.66 and a 52-week high of $150.84. The company has a market capitalization of $13.15 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.55 and a beta of 0.59. The company has a 50 day moving average of $115.46 and a 200 day moving average of $113.42.

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 analysts' consensus estimates of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 383.01%. The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The company's revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts forecast that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be paid a $1.24 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $4.96 dividend on an annualized basis and a yield of 4.6%. Clorox's dividend payout ratio (DPR) is currently 81.05%.

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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