NewEdge Advisors LLC Trims Stock Position in The Clorox Company $CLX

NewEdge Advisors LLC trimmed its stake in shares of The Clorox Company (NYSE:CLX) by 10.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,179 shares of the company’s stock after selling 7,630 shares during the quarter. NewEdge Advisors LLC owned about 0.06% of Clorox worth $6,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CLX. Norges Bank purchased a new stake in Clorox in the 4th quarter valued at approximately $135,735,000. Invesco Ltd. raised its holdings in shares of Clorox by 22.1% in 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 last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Clorox by 6,907.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 749,703 shares of the company’s stock worth $75,593,000 after acquiring an additional 739,005 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Clorox in the second quarter valued at $71,856,000. Finally, Two Sigma Investments LP boosted its stake in shares of Clorox by 33.8% during the third quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company’s stock valued at $214,564,000 after acquiring an additional 439,797 shares during the last quarter. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CLX shares. Barclays reiterated an “underweight” rating and set a $84.00 price objective on shares of Clorox in a research report on Tuesday, August 4th. Morgan Stanley decreased their price target on shares of Clorox from $110.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Clorox from $92.00 to $95.00 and gave the stock an “underweight” rating in a report on Tuesday, August 4th. Jefferies Financial Group lowered shares of Clorox from a “buy” rating to a “hold” rating and cut their price objective for the company from $125.00 to $98.00 in a research report on Tuesday, July 28th. Finally, Citigroup upped their price objective on shares of Clorox from $97.00 to $100.00 and gave the company a “neutral” 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $102.40.

Clorox Stock Performance

NYSE:CLX opened at $107.74 on Tuesday. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. The firm has a 50-day moving average of $96.78 and a two-hundred day moving average of $103.40. The stock has a market cap of $13.03 billion, a P/E ratio of 22.35, a PEG ratio of 3.13 and a beta of 0.54. The Clorox Company has a 1-year low of $84.70 and a 1-year high of $128.90.

Clorox (NYSE:CLX) last announced its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The business 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 company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, research analysts expect that The Clorox Company will post 5.82 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. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Clorox’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Wednesday, August 12th. Clorox’s dividend payout ratio is presently 102.90%.

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.