Glenview Trust Co Makes New Investment in The Clorox Company $CLX

Glenview Trust Co bought a new stake in The Clorox Company (NYSE:CLX) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 5,145 shares of the company’s stock, valued at approximately $491,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Clorox in the second quarter valued at $958,640,000. State Street Corp grew its holdings 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 purchasing an additional 282,794 shares during the last quarter. Invesco Ltd. grew its holdings 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 purchasing an additional 884,751 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Clorox by 0.3% during the fourth 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 in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Clorox by 15.7% in the 4th 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 last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Stock Down 1.0%

CLX stock opened at $102.57 on Friday. The Clorox Company has a one year low of $84.70 and a one year high of $128.90. The stock has a market capitalization of $12.40 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 3.21 and a beta of 0.54. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The company has a fifty day moving average of $99.83 and a 200-day moving average of $102.72.

Clorox (NYSE:CLX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share 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 company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company earned $2.87 EPS. The firm’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. As a group, analysts expect that The Clorox Company will post 5.8 EPS for the current year.

Clorox Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.9%. This is an increase 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%.

Wall Street Analyst Weigh In

CLX has been the subject of a number of research analyst reports. Evercore set a $99.00 target price on Clorox in a research report on Tuesday, August 4th. Wall Street Zen downgraded Clorox from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Barclays restated an “underweight” rating and set a $84.00 target price on shares of Clorox in a research report on Tuesday, August 4th. Zacks Research cut shares of Clorox from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company increased their price target on shares of Clorox from $95.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Twelve analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Clorox presently has a consensus rating of “Reduce” and an average target price 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.