The Manufacturers Life Insurance Company Takes $7.50 Million Position in The Clorox Company $CLX

Key Points

• The Manufacturers Life Insurance Company acquired 78,586 Clorox shares worth approximately $7.5 million, while institutional investors collectively own 78.53% of the company.
• Clorox beat quarterly earnings and revenue estimates, reporting $1.66 in EPS on $1.95 billion in revenue, although revenue declined 2% year over year and full-year guidance is $5.70–$6.00 EPS.
• Clorox raised its quarterly dividend to $1.25 per share, equivalent to $5.00 annually and a 4.9% yield; however, analysts remain cautious, with an overall “Reduce” rating and an average price target of $102.40.

The Manufacturers Life Insurance Company acquired a new position in shares of The Clorox Company (NYSE:CLX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 78,586 shares of the company's stock, valued at approximately $7,500,000. The Manufacturers Life Insurance Company owned about 0.06% of Clorox as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilkins Investment Counsel Inc. raised its holdings in Clorox by 250.6% during the 4th quarter. Wilkins Investment Counsel Inc. now owns 55,064 shares of the company's stock worth $5,552,000 after purchasing an additional 39,360 shares during the last quarter. Morningstar Investment Management LLC increased its position in shares of Clorox by 131.8% during the fourth quarter. Morningstar Investment Management LLC now owns 62,454 shares of the company's stock worth $6,297,000 after buying an additional 35,506 shares during the period. Bank of America Corp DE increased its position in shares of Clorox by 6.1% during the first quarter. Bank of America Corp DE now owns 1,405,774 shares of the company's stock worth $145,680,000 after buying an additional 80,618 shares during the period. National Pension Service raised its stake in Clorox by 68.9% during the fourth quarter. National Pension Service now owns 27,537 shares of the company's stock worth $2,777,000 after buying an additional 11,233 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co acquired a new position in Clorox in the fourth quarter valued at $1,966,000. Institutional investors and hedge funds own 78.53% of the company's stock.

Clorox Price Performance

Shares of CLX opened at $102.57 on Monday. The business's fifty day moving average is $99.83 and its 200 day moving average is $102.60. The Clorox Company has a 12-month low of $84.70 and a 12-month high of $128.90. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. The stock has a market cap of $12.40 billion, a P/E ratio of 21.28, a P/E/G ratio of 3.21 and a beta of 0.54.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The business's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Sell-side analysts anticipate that The Clorox Company will post 5.8 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a yield of 4.9%. This is an increase from Clorox's previous quarterly dividend of $1.24. Clorox's dividend payout ratio is presently 103.73%.

Wall Street Analyst Weigh In

A number of analysts have commented on CLX shares. Barclays reaffirmed an "underweight" rating and set a $84.00 price target on shares of Clorox in a research report on Tuesday, August 4th. BNP Paribas Exane dropped their price objective on Clorox from $97.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $98.00 target price on Clorox in a research report on Tuesday, August 4th. Zacks Research downgraded Clorox from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group downgraded shares of Clorox from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $125.00 to $98.00 in a research report on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $102.40.

Clorox Company Profile

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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