The Clorox Company $CLX Holdings Boosted by Farmers & Merchants Investments Inc.

Key Points

• Farmers & Merchants Investments increased its Clorox stake by 83.7% in the third quarter, bringing its holdings to 47,331 shares valued at approximately $3.83 million. Institutional investors collectively own 78.53% of Clorox.
• Clorox shares opened at $86.38, down 2.6%, while the company’s latest quarterly results modestly exceeded expectations with earnings of $1.66 per share and revenue of $1.95 billion. Revenue declined 2% year over year.
• Clorox declared a quarterly dividend of $1.25 per share, equivalent to a 5.8% annualized yield, but its payout ratio exceeds 100%. Analysts remain cautious, with an average “Reduce” rating and a $93.57 price target.

Farmers & Merchants Investments Inc. increased its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 83.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,331 shares of the company's stock after buying an additional 21,565 shares during the quarter. Farmers & Merchants Investments Inc.'s holdings in Clorox were worth $3,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kestra Private Wealth Services LLC boosted its holdings in shares of Clorox by 1.8% during the first quarter. Kestra Private Wealth Services LLC now owns 5,957 shares of the company's stock worth $617,000 after purchasing an additional 104 shares during the period. Geneos Wealth Management Inc. lifted its position in Clorox by 9.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,402 shares of the company's stock worth $145,000 after buying an additional 119 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in Clorox by 32.3% in the 3rd quarter. Elevation Wealth Partners LLC now owns 565 shares of the company's stock worth $46,000 after buying an additional 138 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of Clorox by 83.8% during the 1st quarter. Root Financial Partners LLC now owns 318 shares of the company's stock valued at $33,000 after buying an additional 145 shares during the period. Finally, Eastern Bank boosted its stake in shares of Clorox by 3.1% during the 3rd quarter. Eastern Bank now owns 5,052 shares of the company's stock valued at $409,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 78.53% of the company's stock.

Clorox Stock Down 2.6%

Shares of Clorox stock opened at $86.38 on Friday. The stock has a market capitalization of $10.45 billion, a P/E ratio of 17.92, a PEG ratio of 2.87 and a beta of 0.59. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. The stock has a 50 day moving average price of $90.24 and a two-hundred day moving average price of $94.73. The Clorox Company has a 12-month low of $79.12 and a 12-month high of $128.90.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Equities analysts expect that The Clorox Company will post 5.66 earnings per share for the current year.

Clorox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Wednesday, October 28th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Wednesday, October 28th. Clorox's dividend payout ratio is 103.73%.

Wall Street Analyst Weigh In

CLX has been the subject of several recent research reports. Wells Fargo & Company cut their price objective on Clorox from $90.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, October 5th. Jefferies Financial Group downgraded Clorox from a "buy" rating to a "hold" rating and lowered their target price for the company from $125.00 to $98.00 in a research note on Tuesday, July 28th. TD Cowen dropped their target price on Clorox from $85.00 to $80.00 and set a "hold" rating on the stock in a research report on Tuesday, October 13th. Morgan Stanley cut their price target on Clorox from $97.00 to $87.00 and set an "equal weight" rating for the company in a research note on Thursday, October 15th. Finally, Citigroup cut their price target on Clorox from $97.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, October 14th. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $93.57.

About Clorox

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt's Bees personal care items.

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