Canvas Wealth Advisors LLC Purchases 40,989 Shares of The Clorox Company $CLX

Key Points

• Canvas Wealth Advisors increased its Clorox holdings by 77.3% in the second quarter, adding 40,989 shares to own 94,026 shares valued at approximately $8.97 million. Institutional investors collectively own 78.53% of Clorox.
• Analyst sentiment remains cautious: 12 analysts rate Clorox “Hold” and five rate it “Sell,” resulting in a consensus “Reduce” rating and a $102.40 average price target.
• Clorox beat quarterly earnings and revenue estimates, reporting $1.66 in EPS on $1.95 billion in revenue, while raising its quarterly dividend to $1.25 per share, or $5.00 annually, for a 4.6% yield.

Canvas Wealth Advisors LLC increased its holdings in The Clorox Company (NYSE:CLX - Free Report) by 77.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,026 shares of the company's stock after acquiring an additional 40,989 shares during the period. Clorox comprises approximately 1.3% of Canvas Wealth Advisors LLC's portfolio, making the stock its 21st biggest holding. Canvas Wealth Advisors LLC owned about 0.08% of Clorox worth $8,974,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Street Corp boosted its position in Clorox by 3.5% in 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. increased its position in shares of Clorox by 22.1% during the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company's stock valued at $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 4th quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company's stock valued at $318,613,000 after purchasing an additional 10,060 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Clorox by 15.7% during the 4th quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company's stock worth $316,244,000 after purchasing an additional 426,433 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of Clorox by 33.8% during the 3rd quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company's stock worth $214,564,000 after purchasing an additional 439,797 shares during the period. 78.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CLX has been the subject of several research reports. Wells Fargo & Company increased their price target 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 price objective on shares of Clorox in a research report on Tuesday, August 4th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Clorox in a research note on Friday, July 10th. Evercore set a $99.00 target price on shares of Clorox in a research report on Tuesday, August 4th. Finally, 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 research note on Tuesday, August 4th. Twelve research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Clorox currently has an average rating of "Reduce" and a consensus price target of $102.40.

Clorox Trading Up 0.6%

Shares of Clorox stock opened at $108.31 on Wednesday. The Clorox Company has a 52-week low of $84.70 and a 52-week high of $128.90. The stock's 50-day simple moving average is $97.15 and its 200 day simple moving average is $103.39. The stock has a market capitalization of $13.10 billion, a P/E ratio of 22.47, a P/E/G 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.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The company's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, research analysts anticipate that The Clorox Company will post 5.82 EPS for the current year.

Clorox Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 12th will be issued a $1.25 dividend. This is a boost from Clorox's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $5.00 annualized dividend and a yield of 4.6%. Clorox's payout ratio is 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.

Want to see what other hedge funds are holding CLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Clorox Company (NYSE:CLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source