Brandywine Managers LLC Makes New Investment in The Clorox Company (NYSE:CLX)

Posted by Defense World Staff on Sep 12th, 2023

Brandywine Managers LLC purchased a new position in The Clorox Company (NYSE:CLX – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 35,725 shares of the company’s stock, valued at approximately $5,574,000. Clorox comprises about 4.0% of Brandywine Managers LLC’s holdings, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Clorox during the 4th quarter worth about $101,609,000. Acadian Asset Management LLC lifted its position in shares of Clorox by 993.7% during the 1st quarter. Acadian Asset Management LLC now owns 630,009 shares of the company’s stock worth $99,670,000 after purchasing an additional 572,403 shares during the last quarter. Invesco Ltd. lifted its position in shares of Clorox by 38.2% during the 1st quarter. Invesco Ltd. now owns 1,051,679 shares of the company’s stock worth $146,216,000 after purchasing an additional 290,833 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Clorox by 213.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 351,619 shares of the company’s stock worth $49,348,000 after purchasing an additional 239,298 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new position in Clorox during the first quarter valued at about $37,400,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insiders Place Their Bets

In other Clorox news, CFO Kevin B. Jacobsen sold 3,346 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $160.82, for a total transaction of $538,103.72. Following the transaction, the chief financial officer now owns 23,224 shares of the company’s stock, valued at approximately $3,734,883.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Clorox Stock Down 0.3 %

Shares of CLX opened at $154.23 on Tuesday. The company has a market capitalization of $19.10 billion, a P/E ratio of 129.61, a PEG ratio of 2.26 and a beta of 0.28. The company has a debt-to-equity ratio of 6.38, a current ratio of 0.95 and a quick ratio of 0.59. The Clorox Company has a one year low of $124.58 and a one year high of $178.21. The business’s 50 day simple moving average is $156.00 and its 200-day simple moving average is $158.12.

Clorox (NYSE:CLX – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.19 by $0.48. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.88 billion. Clorox had a return on equity of 163.56% and a net margin of 2.02%. Clorox’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. As a group, sell-side analysts predict that The Clorox Company will post 5.87 EPS for the current fiscal year.

Clorox Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were issued a $1.20 dividend. This is an increase from Clorox’s previous quarterly dividend of $1.18. This represents a $4.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, August 8th. Clorox’s payout ratio is presently 403.36%.

Wall Street Analysts Forecast Growth

CLX has been the subject of a number of research reports. Barclays raised their price objective on Clorox from $117.00 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, August 4th. DA Davidson raised their target price on Clorox from $155.00 to $176.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Atlantic Securities raised shares of Clorox from an “underweight” rating to a “neutral” rating in a report on Thursday, August 3rd. Finally, StockNews.com raised shares of Clorox from a “hold” rating to a “buy” rating in a report on Friday. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Clorox presently has an average rating of “Hold” and an average target price of $150.38.

Get Our Latest Report on CLX

About Clorox

(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.