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

Federated Hermes Inc. cut its holdings in The Clorox Company (NYSE:CLX) by 87.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,480 shares of the company’s stock after selling 404,166 shares during the quarter. Federated Hermes Inc.’s holdings in Clorox were worth $6,964,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Clorox by 138.3% in the second quarter. Invesco Ltd. now owns 3,245,175 shares of the company’s stock valued at $389,648,000 after purchasing an additional 1,883,465 shares in the last quarter. Norges Bank acquired a new position in Clorox in the 2nd quarter valued at about $190,429,000. Arrowstreet Capital Limited Partnership lifted its holdings in Clorox by 218.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,249,127 shares of the company’s stock valued at $149,983,000 after purchasing an additional 856,873 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Clorox during the 2nd quarter worth about $71,856,000. Finally, Nuance Investments LLC grew its holdings in shares of Clorox by 182.5% during the second quarter. Nuance Investments LLC now owns 848,106 shares of the company’s stock worth $101,832,000 after buying an additional 547,839 shares in the last quarter. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Clorox

In related news, Director Pierre R. Breber bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $104.13 per share, for a total transaction of $416,520.00. Following the acquisition, the director owned 13,000 shares in the company, valued at $1,353,690. This represents a 44.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.63% of the company’s stock.

Clorox Stock Up 0.4%

Shares of NYSE:CLX opened at $113.25 on Tuesday. The Clorox Company has a 1 year low of $96.66 and a 1 year high of $161.45. The stock has a 50-day simple moving average of $105.02 and a 200-day simple moving average of $114.06. The company has a debt-to-equity ratio of 18.01, a quick ratio of 0.50 and a current ratio of 0.76. The stock has a market capitalization of $13.81 billion, a P/E ratio of 17.78, a PEG ratio of 0.56 and a beta of 0.59.

Clorox (NYSE:CLX) last posted its earnings results on Monday, November 3rd. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Clorox had a net margin of 11.68% and a return on equity of 358.39%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The business’s quarterly revenue was down 18.9% on a year-over-year basis. Equities analysts forecast that The Clorox Company will post 7.15 earnings per share for the current year.

Clorox Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently issued reports on CLX shares. Rothschild & Co Redburn decreased their target price on shares of Clorox from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Clorox in a report on Friday, January 9th. Wall Street Zen lowered Clorox from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. Wells Fargo & Company raised their price target on Clorox from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Clorox from $120.00 to $114.00 and set a “neutral” rating for the company in a research note on Friday, January 16th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $120.33.

Clorox Company 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.