Baird Financial Group Inc. Sells 1,117 Shares of The Clorox Company (NYSE:CLX)

by · The Markets Daily

https://www.americanbankingnews.com/wp-content/timthumb/timthumb.php?w=250&h=150&zc=2&src=https://www.marketbeat.com/logos/the-clorox-company-logo.png?v=20221104062931
Baird Financial Group Inc. trimmed its position in shares of The Clorox Company (NYSE:CLX – Free Report) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,115 shares of the company’s stock after selling 1,117 shares during the quarter. Baird Financial Group Inc.’s holdings in Clorox were worth $4,630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Credit Suisse AG grew its position in shares of Clorox by 28.4% in the 2nd quarter. Credit Suisse AG now owns 268,889 shares of the company’s stock valued at $42,764,000 after purchasing an additional 59,404 shares during the period. BlackRock Inc. boosted its holdings in shares of Clorox by 4.9% in the second quarter. BlackRock Inc. now owns 9,929,208 shares of the company’s stock valued at $1,579,141,000 after buying an additional 466,197 shares during the period. Summit Financial LLC increased its position in shares of Clorox by 92.8% during the second quarter. Summit Financial LLC now owns 3,041 shares of the company’s stock worth $484,000 after acquiring an additional 1,464 shares in the last quarter. Buckingham Strategic Wealth LLC raised its holdings in shares of Clorox by 18.7% during the second quarter. Buckingham Strategic Wealth LLC now owns 3,678 shares of the company’s stock worth $585,000 after acquiring an additional 579 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its position in Clorox by 399.7% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 13,472 shares of the company’s stock valued at $2,143,000 after acquiring an additional 10,776 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CLX. HSBC started coverage on Clorox in a research note on Friday, September 22nd. They issued a “hold” rating and a $146.00 price target on the stock. Sanford C. Bernstein upgraded Clorox from an “underperform” rating to a “market perform” rating and set a $120.00 target price on the stock in a research note on Thursday, October 12th. UBS Group raised Clorox from a “sell” rating to a “neutral” rating and upped their price target for the stock from $124.00 to $132.00 in a research report on Monday, November 6th. Raymond James downgraded shares of Clorox from an “outperform” rating to a “market perform” rating in a report on Thursday, October 5th. Finally, Evercore ISI reduced their target price on shares of Clorox from $160.00 to $120.00 and set an “underperform” rating for the company in a report on Thursday, October 5th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $139.53.

Read Our Latest Stock Analysis on CLX

Clorox Stock Performance

CLX opened at $141.44 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.86 and a debt-to-equity ratio of 18.92. The Clorox Company has a 12-month low of $114.68 and a 12-month high of $178.21. The business has a 50 day moving average of $130.23 and a 200-day moving average of $146.10. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 208.00, a PEG ratio of 3.11 and a beta of 0.43.

Clorox (NYSE:CLX – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.69. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.31 billion. Clorox had a return on equity of 195.76% and a net margin of 1.22%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 EPS. On average, equities research analysts expect that The Clorox Company will post 4.56 earnings per share for the current year.

Clorox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Wednesday, January 24th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $4.80 annualized dividend and a yield of 3.39%. Clorox’s dividend payout ratio is currently 705.89%.

Clorox Company Profile

(Free Report)

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.

Further Reading