Beacon Pointe Advisors LLC Makes New $1.52 Million Investment in The Clorox Company $CLX

Key Points

• Beacon Pointe Advisors acquired 15,943 Clorox shares worth approximately $1.52 million during the second quarter. Institutional investors collectively own 78.53% of the company.
• Clorox exceeded quarterly earnings and revenue expectations, reporting $1.66 in EPS and $1.95 billion in revenue, though revenue declined 2% year over year. Shares opened at $102.57, near analysts’ average price target of $102.40.
• Clorox raised its quarterly dividend to $1.25, or $5.00 annually, yielding about 4.9%. Despite the increase, the payout ratio exceeds 100%, while analysts maintain a consensus “Reduce” rating.

Beacon Pointe Advisors LLC purchased a new stake in The Clorox Company (NYSE:CLX - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,943 shares of the company's stock, valued at approximately $1,522,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Haverford Trust Co raised its holdings in Clorox by 2.8% in the fourth quarter. Haverford Trust Co now owns 3,070 shares of the company's stock valued at $310,000 after acquiring an additional 84 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Clorox by 28.2% in the 4th quarter. Golden State Wealth Management LLC now owns 454 shares of the company's stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Clorox by 1.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 5,957 shares of the company's stock valued at $617,000 after purchasing an additional 104 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in shares of Clorox by 3.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 3,659 shares of the company's stock valued at $451,000 after purchasing an additional 109 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Clorox by 4.7% in the 2nd quarter. State of Wyoming now owns 2,540 shares of the company's stock valued at $305,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company's stock.

Clorox Stock Performance

Shares of Clorox stock opened at $102.57 on Monday. The firm's fifty day simple moving average is $99.83 and its 200-day simple moving average is $102.60. The Clorox Company has a 12 month low of $84.70 and a 12 month high of $128.90. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 3.21 and a beta of 0.54. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly 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. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the prior year, the business earned $2.87 EPS. Clorox's quarterly revenue 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, equities analysts forecast that The Clorox Company will post 5.8 earnings per share for the current year.

Clorox Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th were paid a $1.25 dividend. This is an increase from Clorox's previous quarterly dividend of $1.24. The ex-dividend date was Wednesday, August 12th. This represents a $5.00 annualized dividend and a dividend yield of 4.9%. Clorox's dividend payout ratio (DPR) is 103.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Clorox in a research note on Friday, July 10th. Barclays reaffirmed an "underweight" rating and set a $84.00 price target on shares of Clorox in a report on Tuesday, August 4th. Evercore set a $99.00 price objective on Clorox in a research report on Tuesday, August 4th. Citigroup increased their price objective on Clorox from $97.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised their target price on Clorox from $92.00 to $95.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 4th. Twelve investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $102.40.

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.

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