Birmingham Capital Management Co. Inc. AL Makes New Investment in The Clorox Company $CLX

Birmingham Capital Management Co. Inc. AL acquired a new stake in The Clorox Company (NYSE:CLX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,125 shares of the company’s stock, valued at approximately $585,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Clorox during the second quarter worth $958,640,000. State Street Corp boosted its holdings in Clorox by 3.5% in the third quarter. State Street Corp now owns 8,434,277 shares of the company’s stock valued at $1,039,946,000 after purchasing an additional 282,794 shares during the last quarter. Invesco Ltd. boosted its holdings in Clorox by 22.1% in the fourth quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock valued at $492,085,000 after purchasing an additional 884,751 shares during the last quarter. Geode Capital Management LLC grew its position in Clorox by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company’s stock worth $318,613,000 after purchasing an additional 10,060 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Clorox by 15.7% during the 4th quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company’s stock valued at $316,244,000 after buying an additional 426,433 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

Analyst Upgrades and Downgrades

CLX has been the subject of several analyst reports. Jefferies Financial Group cut Clorox from a “buy” rating to a “hold” rating and decreased their price objective for the company from $125.00 to $98.00 in a report on Tuesday, July 28th. Citigroup raised their target price on Clorox from $97.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. BNP Paribas Exane reduced their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. UBS Group boosted their price target on Clorox from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Zacks Research lowered Clorox from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Twelve analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Clorox has a consensus rating of “Reduce” and a consensus price target of $102.40.

Clorox Trading Down 0.6%

Shares of Clorox stock opened at $104.33 on Thursday. The firm has a 50-day simple moving average of $99.54 and a two-hundred day simple moving average of $102.83. The company has a market cap of $12.62 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 3.28 and a beta of 0.54. The Clorox Company has a fifty-two week low of $84.70 and a fifty-two week high of $128.90. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66.

Clorox (NYSE:CLX) last posted its earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.91 billion. During the same period last year, the firm earned $2.87 EPS. The company’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. As a group, equities 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. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.25 per share. 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 4.8%. The ex-dividend date is Wednesday, August 12th. Clorox’s dividend payout ratio (DPR) is currently 103.73%.

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.