Kingsview Wealth Management LLC Buys New Stake in The Clorox Company $CLX

Kingsview Wealth Management LLC bought a new stake in The Clorox Company (NYSE:CLX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,478 shares of the company’s stock, valued at approximately $523,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wilkins Investment Counsel Inc. increased its position in Clorox by 250.6% during the 4th quarter. Wilkins Investment Counsel Inc. now owns 55,064 shares of the company’s stock valued at $5,552,000 after buying an additional 39,360 shares in the last quarter. Morningstar Investment Management LLC boosted its holdings in Clorox by 131.8% in the fourth quarter. Morningstar Investment Management LLC now owns 62,454 shares of the company’s stock worth $6,297,000 after acquiring an additional 35,506 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Clorox by 6.1% during the first quarter. Bank of America Corp DE now owns 1,405,774 shares of the company’s stock worth $145,680,000 after acquiring an additional 80,618 shares during the last quarter. National Pension Service grew its stake in shares of Clorox by 68.9% during the fourth quarter. National Pension Service now owns 27,537 shares of the company’s stock worth $2,777,000 after acquiring an additional 11,233 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of Clorox during the fourth quarter valued at about $1,966,000. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Price Performance

Shares of NYSE CLX opened at $102.57 on Monday. The business’s 50 day moving average price is $99.83 and its 200 day moving average price is $102.60. The firm has a market cap of $12.40 billion, a P/E ratio of 21.28, a P/E/G ratio of 3.21 and a beta of 0.54. The Clorox Company has a 52 week low of $84.70 and a 52 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 posted its quarterly 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. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm posted $2.87 EPS. Clorox’s revenue for the quarter was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, sell-side analysts expect that The Clorox Company will post 5.8 earnings per share for the current year.

Clorox Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Wednesday, August 12th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.9%. This is a boost from Clorox’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Wednesday, August 12th. Clorox’s dividend payout ratio is 103.73%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Clorox from $95.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $98.00 target price on shares of Clorox in a research report on Tuesday, August 4th. UBS Group upped their price target on shares of Clorox from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. raised 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. Twelve research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Clorox has an average rating of “Reduce” and an average price target 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.