The Clorox Company $CLX Holdings Increased by State of Alaska Department of Revenue

Key Points

• State of Alaska increased its Clorox stake by 174.5% in the third quarter, bringing its holdings to 32,518 shares valued at approximately $2.63 million. Institutional investors and hedge funds collectively own 78.53% of the company.
• Clorox reported quarterly EPS of $1.66, slightly exceeding analyst estimates, while revenue reached $1.95 billion but declined 2% year over year. The stock opened at $86.91, near the lower end of its 12-month range.
• The company declared a quarterly dividend of $1.25 per share, equivalent to an annualized $5.00 payout and a 5.8% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $94.64.

State of Alaska Department of Revenue grew its stake in The Clorox Company (NYSE:CLX - Free Report) by 174.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,518 shares of the company's stock after purchasing an additional 20,670 shares during the quarter. State of Alaska Department of Revenue's holdings in Clorox were worth $2,634,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CLX. BlackRock Inc. acquired a new stake in shares of Clorox during the second quarter worth $958,640,000. Bank of America Corp DE bought a new stake in Clorox in the second quarter valued at about $179,780,000. Royal Bank of Canada lifted its stake in Clorox by 20.1% in the first quarter. Royal Bank of Canada now owns 1,418,204 shares of the company's stock valued at $146,969,000 after buying an additional 237,301 shares during the period. Bank of New York Mellon Corp acquired a new position in Clorox in the second quarter valued at about $123,154,000. Finally, Confluence Investment Management LLC lifted its stake in Clorox by 33.8% in the second quarter. Confluence Investment Management LLC now owns 1,247,644 shares of the company's stock valued at $119,075,000 after buying an additional 315,069 shares during the period. Institutional investors and hedge funds own 78.53% of the company's stock.

Clorox Stock Performance

Shares of Clorox stock opened at $86.91 on Monday. The company has a market capitalization of $10.51 billion, a PE ratio of 18.03, a PEG ratio of 2.75 and a beta of 0.59. The Clorox Company has a 12 month low of $79.12 and a 12 month high of $128.90. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. The stock's fifty day simple moving average is $92.27 and its 200 day simple moving average is $95.24.

Clorox (NYSE:CLX - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.02. Clorox had a return on equity of 522.23% and a net margin of 8.74%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the previous year, the firm earned $2.87 earnings per share. The company's revenue was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, research analysts predict that The Clorox Company will post 5.74 EPS for the current year.

Clorox Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $98.00 target price on Clorox in a report on Tuesday, August 4th. Morgan Stanley lowered 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. UBS Group set a $91.00 price target on shares of Clorox in a research report on Thursday. Weiss Ratings reissued a "hold (c-)" rating on shares of Clorox in a research note on Tuesday, October 6th. Finally, Barclays reduced their price objective on shares of Clorox from $84.00 to $80.00 and set an "underweight" rating on the stock in a research note on Friday. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Clorox has a consensus rating of "Reduce" and a consensus target price of $94.64.

Clorox Profile

The Clorox Company is a consumer and professional products company that develops, manufactures and markets household cleaning, disinfecting, wellness and personal care products. Its portfolio includes the Clorox bleach and cleaning brands, as well as products sold under brands such as Pine-Sol, Liquid-Plumr, Fresh Step, Scoop Away, Kingsford, Hidden Valley, Burt's Bees and Brita.

Clorox also offers trash bags, food products, water-filtration systems, charcoal and grilling products, cat litter, and professional cleaning and disinfecting solutions.

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