Canvas Wealth Advisors LLC Buys 40,989 Shares of The Clorox Company $CLX

Canvas Wealth Advisors LLC raised its stake in shares of The Clorox Company (NYSE:CLX) by 77.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,026 shares of the company’s stock after buying an additional 40,989 shares during the quarter. Clorox comprises 1.3% of Canvas Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Canvas Wealth Advisors LLC’s holdings in Clorox were worth $8,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of Clorox in the second quarter worth about $29,000. Caitlin John LLC grew its stake in Clorox by 1,807.1% during the fourth quarter. Caitlin John LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 253 shares in the last quarter. Root Financial Partners LLC increased its holdings in Clorox by 83.8% during the 1st quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock worth $33,000 after acquiring an additional 145 shares during the period. Western Wealth Management LLC bought a new stake in Clorox during the 1st quarter worth approximately $35,000. Finally, SHP Wealth Management purchased a new stake in Clorox in the 4th quarter worth approximately $35,000. 78.53% of the stock is currently owned by institutional investors.

Clorox Price Performance

Shares of NYSE:CLX opened at $108.31 on Wednesday. The company’s fifty day moving average price is $97.15 and its 200-day moving average price is $103.39. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 3.21 and a beta of 0.54. The Clorox Company has a one year low of $84.70 and a one year high of $128.90.

Clorox (NYSE:CLX) last posted 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 net margin of 8.74% and a return on equity of 522.23%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm posted $2.87 EPS. 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. On average, equities research analysts anticipate that The Clorox Company will post 5.82 earnings per share for the current fiscal year.

Clorox Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.6%. This is an increase from Clorox’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Wednesday, August 12th. Clorox’s dividend payout ratio is presently 102.90%.

Wall Street Analyst Weigh In

CLX has been the subject of several analyst reports. BNP Paribas Exane cut their price target on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on Clorox in a research report on Tuesday, August 4th. Evercore set a $99.00 target price on Clorox in a research report on Tuesday, August 4th. Citigroup upped their target price on Clorox from $97.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised their price target on Clorox from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Tuesday, August 4th. 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 stock presently has an average rating of “Reduce” and a consensus target price of $102.40.

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.