Principle Wealth Partners LLC Makes New Investment in The Clorox Company $CLX

Principle Wealth Partners LLC purchased a new stake in The Clorox Company (NYSE:CLX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 4,829 shares of the company’s stock, valued at approximately $461,000.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CLX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Clorox in a research report on Friday, July 10th. Zacks Research cut Clorox from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. BNP Paribas Exane cut their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on shares of Clorox in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Clorox from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Tuesday, August 4th. Twelve analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Clorox currently has a consensus rating of “Reduce” and a consensus target price of $102.40.

Clorox Trading Up 0.3%

Shares of NYSE:CLX opened at $106.01 on Tuesday. The Clorox Company has a 12-month low of $84.70 and a 12-month high of $128.90. The business has a 50 day moving average of $98.30 and a 200-day moving average of $103.19. 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 stock has a market cap of $12.82 billion, a PE ratio of 21.99, a P/E/G ratio of 3.15 and a beta of 0.54.

Clorox (NYSE:CLX) last announced its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, equities research analysts forecast that The Clorox Company will post 5.82 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. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.7%. 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 (DPR) is 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.