Corient Private Wealth LP Invests $6.62 Million in The Clorox Company $CLX

Key Points

• Corient Private Wealth purchased 69,377 Clorox shares worth approximately $6.62 million, giving it a 0.06% stake. Other institutions also initiated positions, and institutional investors now own 78.53% of the company.
• Analyst sentiment remains cautious: Clorox has a consensus “Reduce” rating, with 12 Hold ratings and five Sell ratings, and an average price target of $102.40.
• Clorox exceeded quarterly earnings and revenue expectations, but sales declined 2% year over year. The company raised its quarterly dividend to $1.25, equivalent to a 4.9% yield, though its payout ratio is above 100%.

Corient Private Wealth LP bought a new stake in The Clorox Company (NYSE:CLX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 69,377 shares of the company's stock, valued at approximately $6,621,000. Corient Private Wealth LP owned 0.06% of Clorox as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in Clorox in the second quarter worth $179,780,000. Birmingham Capital Management Co. Inc. AL purchased a new position in Clorox during the second quarter valued at $585,000. Wallace Capital Management Inc. bought a new stake in shares of Clorox during the 2nd quarter valued at $784,000. Freestone Grove Partners LP bought a new stake in shares of Clorox during the 2nd quarter valued at $30,463,000. Finally, Man Group plc bought a new stake in shares of Clorox during the 2nd quarter valued at $2,014,000. 78.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CLX. Barclays reiterated an "underweight" rating and issued a $84.00 price target on shares of Clorox in a research note on Tuesday, August 4th. Weiss Ratings reissued a "hold (c-)" rating on shares of Clorox in a research note on Friday, July 10th. Wells Fargo & Company upped their price objective on shares of Clorox from $95.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Clorox from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, BNP Paribas Exane lowered their target price on shares of Clorox from $97.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Twelve analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, Clorox presently has a consensus rating of "Reduce" and an average price target of $102.40.

Clorox Price Performance

Shares of NYSE:CLX opened at $102.57 on Monday. The Clorox Company has a 1-year low of $84.70 and a 1-year high of $128.90. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. The business has a fifty day moving average price of $99.83 and a 200-day moving average price of $102.60. The company has a market capitalization of $12.40 billion, a PE ratio of 21.28, a PEG ratio of 3.21 and a beta of 0.54.

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

Clorox Increases Dividend

The company 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 annualized dividend and a 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 presently 103.73%.

Clorox Company 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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