The Clorox Company $CLX Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its stake in The Clorox Company by 73.4% in Q3, selling 29,574 shares and leaving 10,722 shares valued at about $1.322 million.
• Clorox reported quarterly EPS of $1.39 (vs. $1.43 expected) with revenue of $1.67 billion, and announced a $1.24 quarterly dividend (annualized $4.96) yielding about 4.3%.
• Wall Street sentiment is muted: the consensus rating is "Reduce" (1 Buy, 12 Hold, 3 Sell) with a consensus price target of $118.73, and institutional investors own roughly 78.5% of the stock.

Intech Investment Management LLC reduced its stake in shares of The Clorox Company (NYSE:CLX - Free Report) by 73.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,722 shares of the company's stock after selling 29,574 shares during the quarter. Intech Investment Management LLC's holdings in Clorox were worth $1,322,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Canandaigua National Bank & Trust Co. grew its position in shares of Clorox by 0.8% during the third quarter. Canandaigua National Bank & Trust Co. now owns 11,196 shares of the company's stock worth $1,380,000 after acquiring an additional 94 shares during the last quarter. Blue Trust Inc. lifted its position in Clorox by 8.5% in the 3rd quarter. Blue Trust Inc. now owns 1,333 shares of the company's stock valued at $164,000 after purchasing an additional 104 shares during the last quarter. Westhampton Capital LLC boosted its stake in Clorox by 0.5% during the 3rd quarter. Westhampton Capital LLC now owns 23,150 shares of the company's stock valued at $2,854,000 after purchasing an additional 107 shares during the period. Parvin Asset Management LLC grew its position in Clorox by 5.7% in the 2nd quarter. Parvin Asset Management LLC now owns 2,035 shares of the company's stock worth $244,000 after purchasing an additional 109 shares during the last quarter. Finally, Eads & Heald Wealth Management grew its position in Clorox by 1.5% in the 3rd quarter. Eads & Heald Wealth Management now owns 7,357 shares of the company's stock worth $907,000 after purchasing an additional 112 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors.

Clorox Price Performance

Shares of NYSE CLX opened at $114.69 on Friday. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.56 and a beta of 0.59. The Clorox Company has a twelve month low of $96.66 and a twelve month high of $153.90. The company has a current ratio of 0.74, a quick ratio of 0.48 and a debt-to-equity ratio of 71.03. The firm has a 50-day moving average of $114.49 and a two-hundred day moving average of $113.64.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 383.01%. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business earned $1.55 EPS. The company's revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts expect that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Clorox Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be paid a $1.24 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $4.96 dividend on an annualized basis and a yield of 4.3%. Clorox's payout ratio is 81.05%.

Wall Street Analysts Forecast Growth

CLX has been the topic of a number of recent analyst reports. Evercore cut their price target on Clorox from $132.00 to $115.00 and set an "underperform" rating on the stock in a report on Wednesday, February 4th. TD Cowen increased their price objective on Clorox from $108.00 to $111.00 and gave the stock a "hold" rating in a report on Wednesday, February 4th. Weiss Ratings raised Clorox from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on Clorox from $114.00 to $112.00 and set a "hold" rating for the company in a research report on Wednesday, February 4th. Finally, UBS Group increased their price target on Clorox from $115.00 to $121.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $118.73.

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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