Canandaigua National Bank & Trust Co. Makes New $1.15 Million Investment in The Clorox Company $CLX

Canandaigua National Bank & Trust Co. acquired a new stake in shares of The Clorox Company (NYSE:CLX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,031 shares of the company’s stock, valued at approximately $1,148,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Somerset Trust Co boosted its stake in Clorox by 1.8% during the second quarter. Somerset Trust Co now owns 17,394 shares of the company’s stock valued at $1,660,000 after buying an additional 311 shares in the last quarter. Hilltop National Bank grew its stake in shares of Clorox by 22.7% in the 2nd quarter. Hilltop National Bank now owns 3,243 shares of the company’s stock worth $310,000 after purchasing an additional 600 shares during the last quarter. Confluence Investment Management LLC lifted its stake in Clorox by 33.8% during the second quarter. Confluence Investment Management LLC now owns 1,247,644 shares of the company’s stock valued at $119,075,000 after purchasing an additional 315,069 shares during the last quarter. Eastern Bank boosted its holdings in Clorox by 9.9% during the second quarter. Eastern Bank now owns 4,902 shares of the company’s stock worth $468,000 after buying an additional 440 shares in the last quarter. Finally, FAS Wealth Partners Inc. increased its holdings in shares of Clorox by 26.2% in the first quarter. FAS Wealth Partners Inc. now owns 3,386 shares of the company’s stock valued at $351,000 after buying an additional 702 shares in the last quarter. 78.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CLX shares. Evercore set a $99.00 target price on Clorox in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. Wells Fargo & Company lifted their target price on shares of Clorox from $95.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $83.00 price objective on shares of Clorox in a research note on Friday, May 1st. Finally, UBS Group raised their target price on Clorox from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday. Twelve research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $102.40.

Clorox Stock Up 1.2%

Shares of Clorox stock opened at $105.97 on Thursday. The Clorox Company has a 12-month low of $84.70 and a 12-month high of $128.90. The stock has a market capitalization of $12.81 billion, a P/E ratio of 21.98 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. The stock has a 50 day moving average price of $95.91 and a two-hundred day moving average price of $103.48.

Clorox (NYSE:CLX) last posted its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Clorox’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Equities analysts expect that The Clorox Company will post 5.83 earnings per share for the current year.

Clorox Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th will be issued a $1.25 dividend. This is an increase 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 yield of 4.7%. Clorox’s payout ratio is 80.52%.

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.