Mystic Asset Management Inc. Purchases New Shares in The Clorox Company $CLX

Key Points

• Mystic Asset Management purchased 11,959 Clorox shares worth approximately $1.14 million during the second quarter. Institutional investors collectively own 78.53% of the company.
• Analyst sentiment remains cautious: Clorox has a consensus “Reduce” rating, with 12 analysts rating it a Hold and five rating it a Sell. The consensus price target is $102.40.
• Clorox exceeded quarterly earnings and revenue expectations but reported year-over-year revenue declines and lower earnings. The company raised its quarterly dividend to $1.25, implying a 4.7% annual yield.

Mystic Asset Management Inc. purchased a new stake in shares of The Clorox Company (NYSE:CLX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,959 shares of the company's stock, valued at approximately $1,141,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLX. Darwin Wealth Management LLC purchased a new position in shares of Clorox in the 2nd quarter worth approximately $29,000. Caitlin John LLC increased its position in shares of Clorox by 1,807.1% during the fourth quarter. Caitlin John LLC now owns 267 shares of the company's stock valued at $27,000 after acquiring an additional 253 shares during the last quarter. Avalon Trust Co bought a new stake in Clorox during the second quarter worth $29,000. Root Financial Partners LLC boosted its position in Clorox by 83.8% in the first quarter. Root Financial Partners LLC now owns 318 shares of the company's stock worth $33,000 after purchasing an additional 145 shares during the last quarter. Finally, Western Wealth Management LLC purchased a new position in Clorox in the first quarter worth $35,000. Hedge funds and other institutional investors own 78.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CLX. Barclays reaffirmed an "underweight" rating and set a $84.00 target price on shares of Clorox in a research report on Tuesday, August 4th. Jefferies Financial Group downgraded shares of Clorox from a "buy" rating to a "hold" rating and cut their price target for the stock from $125.00 to $98.00 in a report on Tuesday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Clorox from $92.00 to $95.00 and gave the company an "underweight" rating in a research report on Tuesday, August 4th. Wells Fargo & Company raised 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. Finally, Zacks Research lowered shares of Clorox from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 12th. Twelve research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $102.40.

Clorox Trading Down 1.8%

Shares of Clorox stock opened at $106.00 on Friday. The stock has a market capitalization of $12.82 billion, a P/E ratio of 21.99, a P/E/G ratio of 3.23 and a beta of 0.54. The Clorox Company has a 52-week low of $84.70 and a 52-week high of $128.90. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The stock's 50-day simple moving average is $98.77 and its 200 day simple moving average is $103.11.

Clorox (NYSE:CLX - Get Free Report) last issued its 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 analyst estimates of $1.91 billion. During the same quarter last year, the business earned $2.87 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. 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 5.8 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 paid a $1.25 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $5.00 dividend on an annualized basis and a yield of 4.7%. This is a positive change from Clorox's previous quarterly dividend of $1.24. Clorox's dividend payout ratio (DPR) is presently 103.73%.

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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