NewEdge Wealth LLC Takes $676,000 Position in The Clorox Company $CLX

NewEdge Wealth LLC bought a new stake in The Clorox Company (NYSE:CLX) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,084 shares of the company’s stock, valued at approximately $676,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Clorox by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,380 shares of the company’s stock valued at $1,970,000 after acquiring an additional 514 shares during the period. Woodline Partners LP boosted its stake in Clorox by 253.7% during the 1st quarter. Woodline Partners LP now owns 10,407 shares of the company’s stock worth $1,532,000 after purchasing an additional 7,465 shares during the period. Baird Financial Group Inc. grew its position in Clorox by 1.7% during the 2nd quarter. Baird Financial Group Inc. now owns 25,032 shares of the company’s stock worth $3,006,000 after purchasing an additional 424 shares during the last quarter. Jump Financial LLC grew its position in Clorox by 173.5% during the 2nd quarter. Jump Financial LLC now owns 12,491 shares of the company’s stock worth $1,500,000 after purchasing an additional 7,924 shares during the last quarter. Finally, Bank of Nova Scotia increased its stake in Clorox by 26.2% in the second quarter. Bank of Nova Scotia now owns 16,141 shares of the company’s stock valued at $1,938,000 after purchasing an additional 3,352 shares during the period. Hedge funds and other institutional investors own 78.53% of the company’s stock.

Clorox Stock Up 0.9%

Shares of Clorox stock opened at $107.00 on Friday. The company has a market cap of $12.94 billion, a P/E ratio of 22.20, a PEG ratio of 3.34 and a beta of 0.54. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The Clorox Company has a one year low of $84.70 and a one year high of $128.90. The firm has a fifty day moving average of $98.97 and a two-hundred day moving average of $103.14.

Clorox (NYSE:CLX) last released its 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. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, analysts forecast that The Clorox Company will post 5.8 earnings per share for the current year.

Clorox Increases Dividend

The company also recently disclosed 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 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 4.7%. Clorox’s payout ratio is 103.73%.

Wall Street Analysts Forecast Growth

CLX has been the subject of a number of research reports. BNP Paribas Exane reduced their target price 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. Jefferies Financial Group lowered Clorox from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $98.00 in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on Clorox in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $83.00 price objective on shares of Clorox in a research report on Friday, May 1st. Twelve 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 currently 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.