NewEdge Advisors LLC Has $6.96 Million Stake in The Clorox Company $CLX

NewEdge Advisors LLC reduced its position in shares of The Clorox Company (NYSE:CLX) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,179 shares of the company’s stock after selling 7,630 shares during the quarter. NewEdge Advisors LLC’s holdings in Clorox were worth $6,962,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp grew its stake in Clorox by 3.5% in the 3rd quarter. State Street Corp now owns 8,434,277 shares of the company’s stock valued at $1,039,946,000 after buying an additional 282,794 shares during the last quarter. Invesco Ltd. lifted its position in Clorox by 22.1% during the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock worth $492,085,000 after acquiring an additional 884,751 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Clorox by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company’s stock valued at $318,613,000 after acquiring an additional 10,060 shares during the period. Van ECK Associates Corp grew its position in shares of Clorox by 15.7% in the fourth quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company’s stock valued at $316,244,000 after purchasing an additional 426,433 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Clorox by 33.8% in the third quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company’s stock valued at $214,564,000 after purchasing an additional 439,797 shares during the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CLX. BNP Paribas Exane reduced their price target on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Citigroup lifted their target price on shares of Clorox from $97.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on Clorox from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on Clorox in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group lowered shares of Clorox from a “buy” rating to a “hold” rating and cut their target price for the stock from $125.00 to $98.00 in a report on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $102.40.

Clorox Stock Up 2.5%

Shares of CLX stock opened at $107.74 on Tuesday. The firm has a fifty day moving average of $96.78 and a 200-day moving average of $103.40. The company has a quick ratio of 0.38, a current ratio of 0.66 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 company has a market capitalization of $13.03 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 3.13 and a beta of 0.54.

Clorox (NYSE:CLX) last released its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, equities research analysts predict that The Clorox Company will post 5.82 earnings per share for the current fiscal year.

Clorox Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 12th will be given a $1.25 dividend. 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 4.6%. This is a boost from Clorox’s previous quarterly dividend of $1.24. Clorox’s payout ratio is 102.90%.

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.