Russell Investments Group Ltd. Increases Position in The Clorox Company (NYSE:CLX)

Key Points

• Russell Investments Group Ltd. increased its stake in The Clorox Company by 17.4%, owning approximately 273,639 shares valued at $40.3 million after purchasing an additional 40,608 shares in the last quarter.
• Clorox reported earnings of $2.87 EPS, exceeding the consensus estimate by 63 cents, with a revenue of $1.99 billion for the quarter, showing a year-over-year increase of 4.5%.
• The company announced a quarterly dividend of $1.24 per share, up from the previous $1.22, representing an annualized dividend of $4.96 with a yield of 4.1%.

Russell Investments Group Ltd. boosted its position in shares of The Clorox Company (NYSE:CLX - Free Report) by 17.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,639 shares of the company's stock after purchasing an additional 40,608 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Clorox worth $40,286,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new position in Clorox during the fourth quarter worth about $31,000. GKV Capital Management Co. Inc. purchased a new position in Clorox during the fourth quarter worth about $32,000. GW&K Investment Management LLC raised its stake in Clorox by 239.1% during the first quarter. GW&K Investment Management LLC now owns 295 shares of the company's stock worth $43,000 after purchasing an additional 208 shares during the period. Roble Belko & Company Inc increased its position in shares of Clorox by 140.7% during the first quarter. Roble Belko & Company Inc now owns 361 shares of the company's stock valued at $53,000 after acquiring an additional 211 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of Clorox during the first quarter valued at about $58,000. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Stock Performance

Clorox stock traded up $0.59 during trading hours on Friday, reaching $122.17. 1,204,790 shares of the stock were exchanged, compared to its average volume of 1,871,838. The stock has a market cap of $14.94 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.98 and a beta of 0.49. 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 Clorox Company has a 52-week low of $117.35 and a 52-week high of $171.37. The firm's 50 day moving average is $124.84 and its 200 day moving average is $136.49.

Clorox (NYSE:CLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.24 by $0.63. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Clorox had a net margin of 11.40% and a return on equity of 377.86%. Clorox's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. Analysts predict that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, August 13th. This is an increase from Clorox's previous quarterly dividend of $1.22. Clorox's payout ratio is currently 76.07%.

Analyst Upgrades and Downgrades

CLX has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Clorox from $150.00 to $134.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. JPMorgan Chase & Co. dropped their price target on shares of Clorox from $144.00 to $140.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Wells Fargo & Company lifted their price target on shares of Clorox from $135.00 to $138.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Jefferies Financial Group dropped their price target on shares of Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Finally, Morgan Stanley dropped their price target on shares of Clorox from $150.00 to $137.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $143.36.

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.