Federated Hermes Inc. Reduces Holdings in The Clorox Company $CLX

Federated Hermes Inc. lowered its position in shares of The Clorox Company (NYSE:CLX) by 87.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,480 shares of the company’s stock after selling 404,166 shares during the period. Federated Hermes Inc.’s holdings in Clorox were worth $6,964,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Total Investment Management Inc. purchased a new stake in Clorox in the second quarter valued at approximately $25,000. True Wealth Design LLC raised its position in Clorox by 1,020.0% in the 3rd quarter. True Wealth Design LLC now owns 224 shares of the company’s stock valued at $28,000 after purchasing an additional 204 shares during the last quarter. NewSquare Capital LLC boosted its stake in Clorox by 567.6% during the 2nd quarter. NewSquare Capital LLC now owns 227 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares during the period. Root Financial Partners LLC acquired a new stake in Clorox during the 3rd quarter worth $29,000. Finally, Darwin Wealth Management LLC purchased a new position in Clorox during the 2nd quarter worth $29,000. 78.53% of the stock is owned by institutional investors and hedge funds.

Clorox Stock Up 0.4%

CLX opened at $113.25 on Tuesday. The company has a debt-to-equity ratio of 18.01, a current ratio of 0.76 and a quick ratio of 0.50. The Clorox Company has a 12 month low of $96.66 and a 12 month high of $161.45. The stock has a market capitalization of $13.81 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.56 and a beta of 0.59. The business has a 50 day simple moving average of $105.02 and a 200-day simple moving average of $114.06.

Clorox (NYSE:CLX) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Clorox had a return on equity of 358.39% and a net margin of 11.68%.Clorox’s revenue was down 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 earnings per share. On average, equities analysts anticipate that The Clorox Company will post 7.15 earnings per share for the current fiscal year.

Clorox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 28th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, January 28th. Clorox’s dividend payout ratio is presently 77.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CLX. Wells Fargo & Company upped their target price on shares of Clorox from $108.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Bank of America reduced their price objective on Clorox from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. The Goldman Sachs Group lowered their target price on Clorox from $110.00 to $94.00 and set a “sell” rating on the stock in a research note on Wednesday, January 7th. Barclays reissued an “underweight” rating and issued a $109.00 target price on shares of Clorox in a report on Friday, January 16th. Finally, JPMorgan Chase & Co. decreased their price target on Clorox from $120.00 to $114.00 and set a “neutral” rating for the company in a report on Friday, January 16th. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $120.33.

Insider Transactions at Clorox

In related news, Director Pierre R. Breber purchased 4,000 shares of Clorox stock in a transaction dated Friday, November 21st. The stock was bought at an average cost of $104.13 per share, for a total transaction of $416,520.00. Following the transaction, the director owned 13,000 shares in the company, valued at approximately $1,353,690. The trade was a 44.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.63% of the company’s stock.

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.