Wedge Capital Management L L P NC Acquires 5,383 Shares of The Clorox Company $CLX

Key Points

• Wedge Capital Management L L P NC increased its stake in The Clorox Company by 18.9% during Q2, owning 33,893 shares valued at approximately $4.07 million.
• Insider trading activity revealed that COO Eric H. Reynolds sold 15,041 shares of Clorox at an average price of $123.78, decreasing his holdings by 21.72% to about $6.71 million.
• Clorox's earnings report showed a better-than-expected performance with $2.87 EPS, surpassing analyst estimates, and the company announced a quarterly dividend of $1.24 per share, yielding 4.1% annually.

Wedge Capital Management L L P NC increased its holdings in The Clorox Company (NYSE:CLX - Free Report) by 18.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,893 shares of the company's stock after purchasing an additional 5,383 shares during the period. Wedge Capital Management L L P NC's holdings in Clorox were worth $4,070,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its stake in shares of Clorox by 13.6% in the 2nd quarter. Global X Japan Co. Ltd. now owns 4,318 shares of the company's stock valued at $518,000 after purchasing an additional 517 shares during the last quarter. Lantz Financial LLC grew its position in shares of Clorox by 13.8% in the 2nd quarter. Lantz Financial LLC now owns 14,122 shares of the company's stock worth $1,696,000 after buying an additional 1,708 shares during the period. SeaCrest Wealth Management LLC lifted its stake in Clorox by 9.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,512 shares of the company's stock valued at $422,000 after acquiring an additional 308 shares during the period. IFM Investors Pty Ltd increased its holdings in Clorox by 4.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 24,131 shares of the company's stock worth $2,897,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Triangle Securities Wealth Management boosted its position in shares of Clorox by 14.4% during the 2nd quarter. Triangle Securities Wealth Management now owns 5,059 shares of the company's stock valued at $607,000 after acquiring an additional 635 shares during the last quarter. 78.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their target price on Clorox from $150.00 to $137.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Clorox from $133.00 to $135.00 and gave the stock a "neutral" rating in a report on Monday, September 8th. Wells Fargo & Company decreased their target price on Clorox from $138.00 to $130.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. Citigroup reiterated a "neutral" rating and set a $135.00 price target (down from $140.00) on shares of Clorox in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group decreased their target price on Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $142.18.

Clorox Price Performance

CLX traded down $1.60 during trading on Monday, reaching $120.06. The stock had a trading volume of 1,826,581 shares, compared to its average volume of 1,967,782. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.84. The business has a 50-day moving average of $124.04 and a 200-day moving average of $131.15. The stock has a market cap of $14.68 billion, a PE ratio of 18.41, a PEG ratio of 0.98 and a beta of 0.52. The Clorox Company has a one year low of $116.53 and a one year high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.63. Clorox had a net margin of 11.40% and a return on equity of 377.86%. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company posted $1.82 earnings per share. The firm's quarterly revenue was up 4.5% on a year-over-year basis. Clorox has set its FY 2026 guidance at 5.950-6.30 EPS. As a group, equities research analysts anticipate that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Shareholders of record on Wednesday, October 22nd will be given a $1.24 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.1%. Clorox's dividend payout ratio is currently 76.07%.

Insider Activity at Clorox

In other news, COO Eric H. Reynolds sold 15,041 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $123.78, for a total value of $1,861,774.98. Following the completion of the sale, the chief operating officer owned 54,221 shares in the company, valued at approximately $6,711,475.38. This trade represents a 21.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by company insiders.

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.