Demars Financial Group LLC Sells 7,499 Shares of The Clorox Company $CLX

Demars Financial Group LLC reduced its stake in shares of The Clorox Company (NYSE:CLX) by 59.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,091 shares of the company’s stock after selling 7,499 shares during the quarter. Demars Financial Group LLC’s holdings in Clorox were worth $412,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Clorox during the 2nd quarter valued at about $958,640,000. Bank of America Corp DE bought a new position in Clorox during the 2nd quarter worth approximately $179,780,000. Royal Bank of Canada grew its position in Clorox by 20.1% during the 1st quarter. Royal Bank of Canada now owns 1,418,204 shares of the company’s stock worth $146,969,000 after acquiring an additional 237,301 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Clorox in the 2nd quarter worth approximately $123,154,000. Finally, Confluence Investment Management LLC increased its stake in Clorox by 33.8% in the 2nd quarter. Confluence Investment Management LLC now owns 1,247,644 shares of the company’s stock worth $119,075,000 after purchasing an additional 315,069 shares during the period. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Clorox Stock Performance

Shares of CLX stock opened at $88.56 on Friday. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.82 and a beta of 0.59. The stock has a fifty day moving average of $90.63 and a 200 day moving average of $94.79. The Clorox Company has a 52 week low of $79.12 and a 52 week 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.

Clorox (NYSE:CLX) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm earned $2.87 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, research analysts expect that The Clorox Company will post 5.70 earnings per share for the current year.

Clorox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, October 28th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, October 28th. This represents a $5.00 annualized dividend and a dividend yield of 5.6%. Clorox’s payout ratio is currently 103.73%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup lowered their price objective on Clorox from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. UBS Group set a $91.00 target price on shares of Clorox in a report on Thursday, October 15th. JPMorgan Chase & Co. decreased their target price on shares of Clorox from $95.00 to $83.00 and set an “underweight” rating on the stock in a research note on Monday. Evercore set a $99.00 price target on shares of Clorox in a report on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Clorox from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Clorox has an average rating of “Reduce” and a consensus target price of $93.57.

Clorox Profile

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt’s Bees personal care items.