Cibc World Market Inc. Takes Position in The Clorox Company $CLX

Cibc World Market Inc. purchased a new stake in shares of The Clorox Company (NYSE:CLX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,367 shares of the company’s stock, valued at approximately $608,000.

Several other large investors have also recently added to or reduced their stakes in CLX. BlackRock Inc. bought a new stake in Clorox during the second quarter valued at $958,640,000. State Street Corp grew its position in shares of Clorox by 3.5% during 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. grew its position in shares of Clorox by 22.1% during the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock valued at $492,085,000 after buying an additional 884,751 shares during the last quarter. Geode Capital Management LLC raised its stake in Clorox by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company’s stock worth $318,613,000 after acquiring an additional 10,060 shares during the period. Finally, Van ECK Associates Corp raised its stake in Clorox by 15.7% during the fourth quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company’s stock worth $316,244,000 after acquiring an additional 426,433 shares during the period. 78.53% of the stock is currently owned by institutional investors.

Clorox Trading Down 0.6%

Clorox stock opened at $103.64 on Friday. The Clorox Company has a 52-week low of $84.70 and a 52-week high of $128.90. 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 firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 3.26 and a beta of 0.54. The firm has a 50-day moving average price of $99.69 and a two-hundred day moving average price of $102.72.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. Clorox’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Sell-side analysts expect that The Clorox Company will post 5.8 earnings per share for the current year.

Clorox Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors 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 of this dividend is Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a yield of 4.8%. Clorox’s dividend payout ratio is currently 103.73%.

Analysts Set New Price Targets

CLX has been the subject of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. The Goldman Sachs Group reiterated a “sell” rating and set a $83.00 price target on shares of Clorox in a research report on Friday, May 1st. Zacks Research cut Clorox from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Citigroup raised their price target on Clorox from $97.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, Morgan Stanley reduced their price objective on Clorox from $110.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Twelve investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Clorox 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.