Live Oak Private Wealth LLC Makes New Investment in The Clorox Company $CLX

Key Points

• Live Oak Private Wealth acquired 65,586 Clorox shares worth approximately $6.26 million, while institutional investors collectively own 78.53% of the company.
• Clorox reported quarterly EPS of $1.66, slightly above estimates, but revenue fell 2% year over year to $1.95 billion. The stock opened at $94.99, down 2.8%.
• Clorox increased its quarterly dividend to $1.25, representing a 5.3% annualized yield, though analysts maintain a cautious outlook with an average “Reduce” rating and a $102.40 price target.

Live Oak Private Wealth LLC bought a new stake in The Clorox Company (NYSE:CLX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 65,586 shares of the company's stock, valued at approximately $6,260,000. Live Oak Private Wealth LLC owned 0.05% of Clorox as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in Clorox in the 2nd quarter valued at about $958,640,000. State Street Corp boosted its stake in 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 buying an additional 282,794 shares during the period. Invesco Ltd. boosted its stake in 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 buying an additional 884,751 shares during the period. 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 valued at $318,613,000 after acquiring an additional 10,060 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Clorox by 15.7% during the fourth quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company's stock valued at $316,244,000 after acquiring an additional 426,433 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company's stock.

Clorox Stock Down 2.8%

Clorox stock opened at $94.99 on Wednesday. The Clorox Company has a twelve month low of $84.70 and a twelve month high of $128.90. The stock's fifty day simple moving average is $100.03 and its 200-day simple moving average is $102.22. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. The firm has a market capitalization of $11.49 billion, a P/E ratio of 19.71, a P/E/G ratio of 3.06 and a beta of 0.56.

Clorox (NYSE:CLX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same period last year, the firm earned $2.87 earnings per share. The company'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, equities analysts expect that The Clorox Company will post 5.8 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Wednesday, August 12th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, August 12th. This is a boost from Clorox's previous quarterly dividend of $1.24. Clorox's dividend payout ratio (DPR) is 103.73%.

Analysts Set New Price Targets

Several brokerages have recently commented on CLX. BNP Paribas Exane decreased their price objective on shares of Clorox from $97.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, July 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Clorox in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft set a $98.00 target price on Clorox in a research report on Tuesday, August 4th. Barclays restated an "underweight" rating and set a $84.00 price target on shares of Clorox in a research report on Tuesday, August 4th. Finally, Zacks Research cut Clorox from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 12th. Twelve investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Clorox presently has an average 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.

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