Parvin Asset Management LLC Takes $1.57 Million Position in The Clorox Company $CLX

Parvin Asset Management LLC purchased a new position in shares of The Clorox Company (NYSE:CLX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,455 shares of the company’s stock, valued at approximately $1,570,000. Clorox comprises about 1.2% of Parvin Asset Management LLC’s holdings, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in CLX. Caitlin John LLC increased its holdings in Clorox by 1,807.1% in the fourth quarter. Caitlin John LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. Ancora Advisors LLC bought a new position in Clorox during the second quarter worth about $28,000. Avalon Trust Co acquired a new position in shares of Clorox during the 2nd quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Clorox in the 2nd quarter valued at about $29,000. Finally, Root Financial Partners LLC grew its holdings in Clorox by 83.8% during the first quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock valued at $33,000 after purchasing an additional 145 shares during the period. 78.53% of the stock is currently owned by institutional investors.

Clorox Trading Down 0.6%

CLX opened at $104.33 on Thursday. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.28 and a beta of 0.54. The Clorox Company has a fifty-two week low of $84.70 and a fifty-two week high of $128.90. The company’s 50 day moving average price is $99.54 and its two-hundred day moving average price is $102.83. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38.

Clorox (NYSE:CLX) last issued its quarterly earnings data 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. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $2.87 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, research analysts predict that The Clorox Company will post 5.8 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. The ex-dividend date is Wednesday, August 12th. This is an increase from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 dividend on an annualized basis and a yield of 4.8%. Clorox’s dividend payout ratio is presently 103.73%.

Wall Street Analyst Weigh In

Several analysts recently commented on CLX shares. Wells Fargo & Company raised their price objective on Clorox from $95.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Evercore set a $99.00 target price on shares of Clorox in a research note on Tuesday, August 4th. Zacks Research lowered Clorox from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $83.00 target price on shares of Clorox in a research report on Friday, May 1st. Finally, Wall Street Zen cut shares of Clorox from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. 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, the company presently has a consensus rating of “Reduce” and a consensus target price of $102.40.

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.