Confluence Investment Management LLC Has $113.05 Million Stake in The Clorox Company $CLX

Key Points

• Confluence Investment Management LLC increased its stake in The Clorox Company by 12%, owning approximately 941,510 shares after purchasing an additional 100,764 shares in Q2.
• The Clorox Company reported $2.87 earnings per share for its last quarter, surpassing analysts' estimates, and its revenue increased by 4.5% year-over-year.
• The company declared a quarterly dividend of $1.24, raising it from the previous $1.22, representing an annual yield of 4.0%.

Confluence Investment Management LLC grew its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 12.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 941,510 shares of the company's stock after purchasing an additional 100,764 shares during the quarter. Clorox makes up about 1.6% of Confluence Investment Management LLC's investment portfolio, making the stock its 24th biggest position. Confluence Investment Management LLC owned 0.76% of Clorox worth $113,047,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CLX. Hsbc Holdings PLC lifted its stake in shares of Clorox by 118.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,085,661 shares of the company's stock worth $159,699,000 after purchasing an additional 589,544 shares during the period. KBC Group NV lifted its stake in shares of Clorox by 688.7% during the 1st quarter. KBC Group NV now owns 587,679 shares of the company's stock worth $86,535,000 after purchasing an additional 513,171 shares during the period. AQR Capital Management LLC lifted its stake in shares of Clorox by 412.1% during the 1st quarter. AQR Capital Management LLC now owns 598,758 shares of the company's stock worth $88,167,000 after purchasing an additional 481,846 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Clorox by 147.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 707,005 shares of the company's stock worth $104,107,000 after buying an additional 421,453 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Clorox by 11,108.0% during the 1st quarter. GAMMA Investing LLC now owns 349,130 shares of the company's stock worth $51,409,000 after buying an additional 346,015 shares during the last quarter. Hedge funds and other institutional investors own 78.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CLX shares. Barclays dropped their price objective on Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a report on Tuesday, July 15th. Citigroup restated a "neutral" rating and set a $135.00 target price (down from $140.00) on shares of Clorox in a research note on Tuesday, July 15th. Jefferies Financial Group lowered their target price on Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company decreased their price target on Clorox from $138.00 to $130.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. Finally, UBS Group decreased their price target on Clorox from $150.00 to $134.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $142.18.

Insiders Place Their Bets

In related news, COO Eric H. Reynolds sold 15,041 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $123.78, for a total transaction of $1,861,774.98. Following the completion of the sale, the chief operating officer directly owned 54,221 shares in the company, valued at approximately $6,711,475.38. This trade represents a 21.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.57% of the company's stock.

Clorox Price Performance

NYSE:CLX traded up $1.97 during midday trading on Tuesday, hitting $124.79. 1,737,307 shares of the stock were exchanged, compared to its average volume of 1,784,062. The company has a market capitalization of $15.26 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 0.99 and a beta of 0.52. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15. The Clorox Company has a one year low of $116.53 and a one year high of $171.37. The business has a 50-day moving average price of $124.24 and a two-hundred day moving average price of $131.91.

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, beating the consensus estimate of $2.24 by $0.63. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.94 billion. Clorox had a return on equity of 377.86% and a net margin of 11.40%.The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.82 EPS. Clorox has set its FY 2026 guidance at 5.950-6.30 EPS. Sell-side analysts predict that The Clorox Company will post 7.15 EPS for the current year.

Clorox Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 13th were issued a dividend of $1.24 per share. The ex-dividend date was Wednesday, August 13th. This is a positive change from Clorox's previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a yield of 4.0%. Clorox's payout ratio is 76.07%.

About Clorox

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.