The Clorox Company $CLX Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Clorox position by 6.1% in the first quarter, adding 80,618 shares to own 1.41 million shares valued at approximately $145.7 million. Institutional investors collectively hold 78.53% of Clorox’s stock.
• Clorox exceeded quarterly expectations with adjusted EPS of $1.66 and revenue of $1.95 billion, although revenue declined 2% year over year. The company raised its quarterly dividend to $1.25 per share, implying a 4.7% yield.
• Analyst sentiment remains cautious, with 12 Hold ratings and five Sell ratings producing an overall “Reduce” consensus and a $102.40 average price target, below the stock’s reported $105.97 price.

Bank of America Corp DE raised its position in shares of The Clorox Company (NYSE:CLX - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,405,774 shares of the company's stock after purchasing an additional 80,618 shares during the quarter. Bank of America Corp DE owned 1.16% of Clorox worth $145,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Caitlin John LLC lifted its stake in shares of Clorox by 1,807.1% in the 4th quarter. Caitlin John LLC now owns 267 shares of the company's stock valued at $27,000 after purchasing an additional 253 shares during the period. Darwin Wealth Management LLC purchased a new stake in Clorox during the 2nd quarter worth approximately $29,000. Vision Financial Markets LLC increased its position in shares of Clorox by 166.7% during the fourth quarter. Vision Financial Markets LLC now owns 320 shares of the company's stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Root Financial Partners LLC raised its position in shares of Clorox by 83.8% in the first 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 last quarter. Finally, SHP Wealth Management acquired a new stake in Clorox in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 78.53% of the company's stock.

Clorox Trading Up 1.2%

CLX opened at $105.97 on Thursday. The business's 50 day moving average is $95.91 and its two-hundred day moving average is $103.48. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 21.98 and a beta of 0.54. The Clorox Company has a 52 week low of $84.70 and a 52 week high of $128.90. The company has a quick ratio of 0.65, a current ratio of 0.66 and a debt-to-equity ratio of 15.80.

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 the consensus estimate of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $2.87 EPS. Clorox's revenue for the quarter 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 5.83 EPS for the current year.

Clorox Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.7%. This is a boost from Clorox's previous quarterly dividend of $1.24. The ex-dividend date is Wednesday, August 12th. Clorox's dividend payout ratio (DPR) is currently 80.52%.

Analyst Ratings Changes

Several research firms have recently commented on CLX. Evercore set a $99.00 price target on Clorox in a report on Tuesday. Zacks Research cut Clorox from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on shares of Clorox in a research note on Tuesday. The Goldman Sachs Group reissued a "sell" rating and set a $83.00 target price on shares of Clorox in a research note on Friday, May 1st. Finally, UBS Group boosted their price target on shares of Clorox from $100.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday. Twelve equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $102.40.

About Clorox

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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