OVERSEA CHINESE BANKING Corp Ltd Acquires New Holdings in The Clorox Company $CLX

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in The Clorox Company (NYSE:CLX) in the 2nd quarter, Holdings Channel.com reports. The fund bought 73,976 shares of the company’s stock, valued at approximately $7,060,000.

Several other hedge funds also recently bought and sold shares of CLX. Haverford Trust Co boosted its position in shares of Clorox by 2.8% during the fourth quarter. Haverford Trust Co now owns 3,070 shares of the company’s stock worth $310,000 after purchasing an additional 84 shares in the last quarter. Field & Main Bank increased its position in shares of Clorox by 3.3% in the 4th quarter. Field & Main Bank now owns 3,100 shares of the company’s stock valued at $313,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Clorox by 28.2% during the 4th quarter. Golden State Wealth Management LLC now owns 454 shares of the company’s stock worth $46,000 after buying an additional 100 shares during the period. Kestra Private Wealth Services LLC raised its stake in Clorox by 1.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 5,957 shares of the company’s stock worth $617,000 after buying an additional 104 shares during the period. Finally, Johnson Financial Group Inc. lifted its holdings in Clorox by 3.1% during the third quarter. Johnson Financial Group Inc. now owns 3,659 shares of the company’s stock worth $451,000 after acquiring an additional 109 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Clorox Stock Performance

Shares of NYSE CLX opened at $106.00 on Friday. 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 stock has a 50 day moving average price of $98.77 and a 200 day moving average price of $103.11. The stock has a market capitalization of $12.82 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 3.23 and a beta of 0.54. The Clorox Company has a 52 week low of $84.70 and a 52 week high of $128.90.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Monday, August 3rd. The company reported $1.66 earnings per share 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 firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm earned $2.87 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Analysts predict that The Clorox Company will post 5.8 earnings per share for the current fiscal year.

Clorox Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 12th will be issued a dividend of $1.25 per share. 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 dividend payout ratio is 103.73%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CLX shares. Wall Street Zen cut Clorox from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. BNP Paribas Exane dropped their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on Clorox in a report on Tuesday, August 4th. Wells Fargo & Company boosted their price objective on Clorox from $95.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. Twelve equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $102.40.

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.