Wallace Capital Management Inc. Makes New $784,000 Investment in The Clorox Company $CLX

Wallace Capital Management Inc. acquired a new position in The Clorox Company (NYSE:CLX) in the second quarter, HoldingsChannel reports. The institutional investor acquired 8,216 shares of the company’s stock, valued at approximately $784,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CLX. BlackRock Inc. bought a new position in Clorox in the 2nd quarter worth $958,640,000. Norges Bank purchased a new stake in Clorox in the 4th quarter worth $135,735,000. Bank of New York Mellon Corp purchased a new stake in Clorox in the 2nd quarter worth $123,154,000. Equity Investment Corp purchased a new position in shares of Clorox in the second quarter valued at about $111,800,000. Finally, Invesco Ltd. lifted its position in shares of Clorox by 22.1% in the fourth quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock valued at $492,085,000 after acquiring an additional 884,751 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BNP Paribas Exane cut their target price on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on Clorox in a report on Tuesday, August 4th. Morgan Stanley dropped their price target on Clorox from $110.00 to $97.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Barclays reaffirmed an “underweight” rating and set a $84.00 price objective on shares of Clorox in a report on Tuesday, August 4th. Finally, Evercore set a $99.00 price objective on shares of Clorox in a research report on Tuesday, August 4th. Twelve equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $102.40.

Clorox Stock Down 0.6%

Shares of NYSE:CLX opened at $104.33 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.38 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 50-day moving average price of $99.54 and a 200 day moving average price of $102.83. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.28 and a beta of 0.54.

Clorox (NYSE:CLX) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.91 billion. During the same quarter last year, the business posted $2.87 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. 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 5.8 earnings per share for the current year.

Clorox Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 12th will be issued a $1.25 dividend. This is a positive change from Clorox’s previous quarterly dividend of $1.24. The ex-dividend date is Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.8%. Clorox’s dividend payout ratio (DPR) is presently 103.73%.

Clorox 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.