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

NewEdge Wealth LLC acquired a new stake in The Clorox Company (NYSE:CLX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,084 shares of the company’s stock, valued at approximately $676,000.

Several other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Clorox during the 2nd quarter worth approximately $958,640,000. State Street Corp increased its position in shares of Clorox by 3.5% during the third quarter. State Street Corp now owns 8,434,277 shares of the company’s stock worth $1,039,946,000 after acquiring an additional 282,794 shares during the period. Invesco Ltd. increased its position in shares of Clorox by 22.1% during the fourth quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock worth $492,085,000 after acquiring an additional 884,751 shares during the period. Geode Capital Management LLC raised its stake in shares of Clorox by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company’s stock valued at $318,613,000 after acquiring an additional 10,060 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Clorox by 15.7% in the fourth quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company’s stock valued at $316,244,000 after purchasing an additional 426,433 shares during the period. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Price Performance

CLX stock opened at $107.00 on Friday. The business has a 50 day moving average price of $98.97 and a 200 day moving average price of $103.14. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 3.34 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 quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.91 billion. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period 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 announced 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. This is a positive change from Clorox’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.7%. Clorox’s payout ratio is 103.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CLX shares. Citigroup increased their price target on Clorox from $97.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Jefferies Financial Group cut shares of Clorox from a “buy” rating to a “hold” rating and reduced their target price for the company from $125.00 to $98.00 in a report on Tuesday, July 28th. BNP Paribas Exane lowered 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. JPMorgan Chase & Co. increased their price objective on shares of Clorox from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Clorox from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Twelve equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Clorox has an average rating of “Reduce” and an average price target 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.