The Clorox Company $CLX Shares Purchased by Farmers & Merchants Investments Inc.

Key Points

• Farmers & Merchants Investments Inc. increased its holdings in The Clorox Company by 285.4% during Q2, owning 22,489 shares worth $2.7 million.
• Wall Street analysts have lowered their price targets for Clorox, with Barclays setting a target of $119.00 and indicating an "underweight" rating.
• The Clorox Company declared a quarterly dividend of $1.24 per share, representing an annual yield of 4.1%, to be paid on November 6th.

Farmers & Merchants Investments Inc. increased its holdings in shares of The Clorox Company (NYSE:CLX - Free Report) by 285.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,489 shares of the company's stock after buying an additional 16,654 shares during the period. Farmers & Merchants Investments Inc.'s holdings in Clorox were worth $2,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Vident Advisory LLC purchased a new position in Clorox during the 4th quarter valued at about $456,000. Vise Technologies Inc. purchased a new stake in Clorox during the fourth quarter worth approximately $250,000. Public Employees Retirement System of Ohio lifted its stake in Clorox by 0.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 60,035 shares of the company's stock worth $9,750,000 after purchasing an additional 269 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Clorox by 30.5% during the fourth quarter. Mackenzie Financial Corp now owns 13,464 shares of the company's stock worth $2,187,000 after purchasing an additional 3,148 shares during the last quarter. Finally, American Trust purchased a new stake in Clorox during the fourth quarter worth approximately $293,000. 78.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays cut their price target on Clorox from $129.00 to $119.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 15th. Citigroup reaffirmed a "neutral" rating and set a $135.00 price target (down previously from $140.00) on shares of Clorox in a research report on Tuesday, July 15th. Morgan Stanley cut their price target on Clorox from $150.00 to $137.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Wells Fargo & Company dropped their target price on Clorox from $138.00 to $130.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. Finally, Jefferies Financial Group dropped their target price on Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Clorox presently has an average rating of "Reduce" and an average price target of $142.18.

Clorox Stock Performance

Shares of NYSE CLX opened at $120.06 on Tuesday. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.98 and a beta of 0.52. The stock's fifty day simple moving average is $123.89 and its 200 day simple moving average is $130.93. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 5.15. The Clorox Company has a 52-week low of $116.53 and a 52-week high of $171.37.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.24 by $0.63. Clorox had a return on equity of 377.86% and a net margin of 11.40%.The firm had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business's revenue for the quarter 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, sell-side analysts forecast that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Clorox Announces Dividend

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

Insider Transactions at Clorox

In related news, COO Eric H. Reynolds sold 15,041 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $123.78, for a total transaction of $1,861,774.98. Following the transaction, the chief operating officer directly owned 54,221 shares in the company, valued at $6,711,475.38. The trade was a 21.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Clorox Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.