Bank of America Corp DE Makes New $179.78 Million Investment in The Clorox Company $CLX

Key Points

• Bank of America acquired 1.88 million Clorox shares worth approximately $179.8 million, representing about 1.56% of the company; institutional investors collectively own 78.53% of Clorox.
• Clorox beat quarterly earnings and revenue estimates, reporting $1.66 EPS and $1.95 billion in revenue, although revenue declined 2% year over year and full-year guidance is $5.70–$6.00 EPS.
• Clorox raised its quarterly dividend to $1.25 per share, equating to a 5.9% yield, while analysts remain cautious with a consensus “Reduce” rating and an average price target of $101.40.

Bank of America Corp DE purchased a new stake in The Clorox Company (NYSE:CLX - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,883,700 shares of the company's stock, valued at approximately $179,780,000. Bank of America Corp DE owned about 1.56% of Clorox at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ancora Advisors LLC bought a new stake in Clorox during the second quarter worth approximately $28,000. Avalon Trust Co acquired a new position in Clorox in the second quarter worth approximately $29,000. Root Financial Partners LLC increased its holdings in shares of Clorox by 83.8% in the first quarter. Root Financial Partners LLC now owns 318 shares of the company's stock valued at $33,000 after buying an additional 145 shares in the last quarter. SHP Wealth Management bought a new position in shares of Clorox in the fourth quarter valued at $35,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Clorox during the 1st quarter valued at $35,000. Institutional investors own 78.53% of the company's stock.

Clorox Stock Performance

CLX stock opened at $84.98 on Friday. The firm has a 50 day simple moving average of $98.54 and a 200 day simple moving average of $99.24. The Clorox Company has a 52 week low of $83.76 and a 52 week high of $128.90. The stock has a market cap of $10.28 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.66 and a beta of 0.56. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Research analysts anticipate that The Clorox Company will post 5.8 earnings per share for the current fiscal year.

Clorox Increases Dividend

The company also recently disclosed 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 is a positive change from Clorox's previous quarterly dividend of $1.24. This represents a $5.00 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Wednesday, August 12th. Clorox's dividend payout ratio is 103.73%.

Analyst Ratings Changes

CLX has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Clorox from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Friday, September 11th. Citigroup cut their target price on Clorox from $100.00 to $97.00 and set a "neutral" rating on the stock in a research report on Friday, September 11th. BNP Paribas Exane reduced their target price on Clorox from $97.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, July 20th. UBS Group reiterated a "neutral" rating on shares of Clorox in a research report on Friday, September 11th. Finally, Wall Street Zen cut Clorox from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Thirteen investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $101.40.

Clorox Profile

The Clorox Company NYSE: CLX is a consumer products company that develops, manufactures and markets household, health and wellness, and lifestyle products. Its portfolio includes cleaning and disinfecting products, laundry and home-care items, food products, personal-care products, water-filtration systems, charcoal, and cat litter.

Clorox's brands include Clorox bleach and disinfecting products, Pine-Sol, Fresh Step and Scoop Away, Kingsford, Brita, Burt's Bees, Hidden Valley, and products marketed under the Glad name.

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