Truist Financial Corp Sells 16,316 Shares of The Clorox Company $CLX

Key Points

• Truist Financial Corp reduced its holdings in The Clorox Company by 31.9%, selling 16,316 shares in the 2nd quarter, leaving it with 34,800 shares valued at $4.18 million.
• Clorox's recent earnings report exceeded expectations, posting $2.87 EPS for the quarter, which is a significant increase compared to the previous year's $1.82 EPS.
• The company declared a quarterly dividend of $1.24 per share, set to be paid on November 6th, translating to an annualized dividend yield of 4.1%.

Truist Financial Corp cut its holdings in The Clorox Company (NYSE:CLX - Free Report) by 31.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,800 shares of the company's stock after selling 16,316 shares during the period. Truist Financial Corp's holdings in Clorox were worth $4,178,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CLX. American National Bank & Trust boosted its holdings in Clorox by 69.5% during the 2nd quarter. American National Bank & Trust now owns 217 shares of the company's stock valued at $26,000 after acquiring an additional 89 shares during the period. Ransom Advisory Ltd bought a new stake in Clorox in the first quarter valued at approximately $35,000. GW&K Investment Management LLC lifted its position in Clorox by 239.1% in the first quarter. GW&K Investment Management LLC now owns 295 shares of the company's stock valued at $43,000 after purchasing an additional 208 shares during the last quarter. Roble Belko & Company Inc raised its holdings in Clorox by 140.7% during the 1st quarter. Roble Belko & Company Inc now owns 361 shares of the company's stock valued at $53,000 after buying an additional 211 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in Clorox during the 1st quarter valued at $58,000. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Clorox in a research note on Saturday, September 27th. Jefferies Financial Group lowered their price target on Clorox from $167.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Morgan Stanley lowered their price target on Clorox from $150.00 to $137.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Wells Fargo & Company decreased their target price on Clorox from $130.00 to $125.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Finally, UBS Group decreased their target price on Clorox from $134.00 to $128.00 and set a "neutral" rating for the company in a report on Wednesday. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Clorox has an average rating of "Reduce" and a consensus target price of $132.92.

Insiders Place Their Bets

In other Clorox news, COO Eric H. Reynolds sold 15,041 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $123.78, for a total transaction of $1,861,774.98. Following the completion of the sale, the chief operating officer directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company's stock.

Clorox Price Performance

Shares of NYSE CLX opened at $119.59 on Thursday. The Clorox Company has a fifty-two week low of $116.53 and a fifty-two week high of $171.37. 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 company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 0.98 and a beta of 0.52. The company has a 50 day simple moving average of $122.38 and a two-hundred day simple moving average of $129.11.

Clorox (NYSE:CLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.87 earnings per share 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 company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $1.82 EPS. The firm'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. Analysts expect that The Clorox Company will post 7.15 EPS for the current fiscal year.

Clorox Announces Dividend

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

Clorox Company 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.

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