Bank of Nova Scotia Invests $1.50 Million in The Clorox Company $CLX

Bank of Nova Scotia purchased a new stake in The Clorox Company (NYSE:CLX) in the 2nd quarter, Holdings Channel reports. The firm purchased 15,727 shares of the company’s stock, valued at approximately $1,501,000.

Other hedge funds have also added to or reduced their stakes in the company. Haverford Trust Co grew its stake in Clorox by 2.8% in the fourth quarter. Haverford Trust Co now owns 3,070 shares of the company’s stock valued at $310,000 after acquiring an additional 84 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Clorox by 28.2% in the fourth quarter. Golden State Wealth Management LLC now owns 454 shares of the company’s stock worth $46,000 after acquiring an additional 100 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Clorox by 1.8% during the first quarter. Kestra Private Wealth Services LLC now owns 5,957 shares of the company’s stock worth $617,000 after purchasing an additional 104 shares during the period. Johnson Financial Group Inc. lifted its holdings in shares of Clorox by 3.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 3,659 shares of the company’s stock valued at $451,000 after purchasing an additional 109 shares in the last quarter. Finally, State of Wyoming lifted its holdings in shares of Clorox by 4.7% during the 2nd quarter. State of Wyoming now owns 2,540 shares of the company’s stock valued at $305,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

Clorox Price Performance

NYSE CLX opened at $104.33 on Thursday. 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 Clorox Company has a 12-month low of $84.70 and a 12-month high of $128.90. The company has a market capitalization of $12.62 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 3.28 and a beta of 0.54. The firm’s 50 day moving average is $99.54 and its 200-day moving average is $102.83.

Clorox (NYSE:CLX) last announced 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 business 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 firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Equities research analysts anticipate that The Clorox Company will post 5.8 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed 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 represents a $5.00 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, August 12th. This is a positive change from Clorox’s previous quarterly dividend of $1.24. Clorox’s dividend payout ratio is 103.73%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CLX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Clorox from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 4th. Zacks Research lowered shares of Clorox from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wall Street Zen cut shares of Clorox from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Wells Fargo & Company upped their target price on shares of Clorox from $95.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Twelve investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the 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.