Commerce Bank Takes $3 Million Position in The Clorox Company $CLX

Commerce Bank purchased a new position in The Clorox Company (NYSE:CLX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 31,485 shares of the company’s stock, valued at approximately $3,005,000.

A number of other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Clorox during the 2nd quarter worth approximately $1,085,000. Landscape Capital Management L.L.C. acquired a new stake in Clorox in the second quarter valued at approximately $5,020,000. Korea Investment CORP purchased a new position in Clorox in the second quarter worth $13,344,000. EP Wealth Advisors LLC purchased a new position in Clorox in the second quarter worth $796,000. Finally, Pinnacle West Asset Management Inc. acquired a new position in shares of Clorox during the second quarter worth $200,000. 78.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BNP Paribas Exane lowered their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Evercore set a $99.00 price objective on shares of Clorox in a report on Tuesday, August 4th. UBS Group increased their price objective on shares of Clorox from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Barclays reiterated an “underweight” rating and issued a $84.00 target price on shares of Clorox in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Clorox from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Twelve analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $102.40.

Clorox Stock Performance

Shares of CLX stock opened at $107.20 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. The Clorox Company has a 12-month low of $84.70 and a 12-month high of $128.90. The business’s 50 day moving average is $99.20 and its two-hundred day moving average is $103.01. The company has a market capitalization of $12.96 billion, a P/E ratio of 22.24, a P/E/G ratio of 3.34 and a beta of 0.54.

Clorox (NYSE:CLX) last announced its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.91 billion. During the same quarter last year, the business earned $2.87 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Analysts expect that The Clorox Company will post 5.8 EPS for the current fiscal year.

Clorox Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th will be paid a $1.25 dividend. This is a boost from Clorox’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.7%. Clorox’s dividend payout ratio is 103.73%.

Clorox Profile

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.