Ferguson Wellman Capital Management Inc. Purchases New Position in The Clorox Company $CLX

Ferguson Wellman Capital Management Inc. purchased a new stake in The Clorox Company (NYSE:CLX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,100 shares of the company’s stock, valued at approximately $678,000.

Several other large investors have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan increased its holdings in shares of Clorox by 2.6% during the second quarter. Nissay Asset Management Corp Japan now owns 16,047 shares of the company’s stock worth $1,532,000 after buying an additional 406 shares in the last quarter. Chapin Davis Inc. acquired a new position in shares of Clorox in the 2nd quarter worth approximately $374,000. Navellier & Associates Inc. grew its position in Clorox by 37.1% during the 2nd quarter. Navellier & Associates Inc. now owns 6,055 shares of the company’s stock worth $578,000 after acquiring an additional 1,639 shares during the last quarter. Field & Main Bank bought a new stake in Clorox during the 2nd quarter worth approximately $296,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Clorox during the 2nd quarter valued at $523,000. 78.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CLX. Citigroup lifted their price objective on Clorox from $97.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Zacks Research lowered Clorox from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Jefferies Financial Group lowered Clorox from a “buy” rating to a “hold” rating and lowered their target price for the company from $125.00 to $98.00 in a research note on Tuesday, July 28th. UBS Group lifted their price target on Clorox from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Wells Fargo & Company upped their price target on shares of Clorox from $95.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Twelve investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Clorox has an average rating of “Reduce” and an average price target of $102.40.

Clorox Price Performance

Shares of CLX opened at $102.57 on Friday. 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 Clorox Company has a 1 year low of $84.70 and a 1 year high of $128.90. The stock has a market cap of $12.40 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 3.21 and a beta of 0.54. The stock’s 50-day moving average price is $99.83 and its two-hundred day moving average price is $102.72.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Clorox had a return on equity of 522.23% and a net margin of 8.74%.Clorox’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, equities analysts predict that The Clorox Company will post 5.8 earnings per share for the current year.

Clorox Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Wednesday, August 12th were issued a dividend of $1.25 per share. This is an increase from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date 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.