Van ECK Associates Corp Sells 245,427 Shares of The Clorox Company $CLX

Van ECK Associates Corp trimmed its stake in The Clorox Company (NYSE:CLX) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,972,952 shares of the company’s stock after selling 245,427 shares during the period. Van ECK Associates Corp’s holdings in Clorox were worth $283,739,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CLX. BlackRock Inc. acquired a new position in shares of Clorox in the second quarter worth approximately $958,640,000. State Street Corp increased its position in shares of Clorox by 3.5% during the third quarter. State Street Corp now owns 8,434,277 shares of the company’s stock worth $1,039,946,000 after buying an additional 282,794 shares during the period. Invesco Ltd. raised its stake in Clorox by 22.1% during the fourth quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock worth $492,085,000 after buying an additional 884,751 shares during the last quarter. Geode Capital Management LLC raised its stake in Clorox by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company’s stock worth $318,613,000 after buying an additional 10,060 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Clorox during the second quarter valued at $179,780,000. 78.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

CLX has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Clorox from $110.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Zacks Research cut Clorox from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Wells Fargo & Company boosted their price target on Clorox from $95.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of Clorox from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $83.00 price objective on shares of Clorox in a research report on Friday, May 1st. Twelve research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Clorox currently has a consensus rating of “Reduce” and an average price target of $102.40.

Clorox Stock Down 1.0%

Clorox stock opened at $102.57 on Friday. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 3.24 and a beta of 0.54. The firm’s fifty day moving average price is $99.83 and its two-hundred day moving average price is $102.72. The Clorox Company has a 1-year low of $84.70 and a 1-year high of $128.90. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80.

Clorox (NYSE:CLX) last posted its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The company 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 firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, equities research analysts predict that The Clorox Company will post 5.8 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Wednesday, August 12th were issued a $1.25 dividend. This is a boost from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Wednesday, August 12th. Clorox’s dividend payout ratio is 103.73%.

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.