Graypoint LLC Increases Holdings in The Clorox Company

Graypoint LLC has increased its investment in The Clorox Company (NYSE:CLX) by 28.0% during the third quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission. After acquiring an additional 854 shares during the quarter, the fund now holds a total of 3,899 shares in the company, which are valued at approximately $635,000.

Other significant investors have also adjusted their stakes in Clorox. For instance, Insight Folios Inc raised its ownership by 3.0% in the third quarter, bringing its total holdings to 2,195 shares valued at $358,000 after purchasing an additional 63 shares. Similarly, GHP Investment Advisors Inc. increased its stake by 2.0% during the second quarter, resulting in ownership of 3,634 shares worth $496,000 following the addition of 72 shares. Furthermore, Fiduciary Group LLC boosted its holdings by 0.4% in the same quarter, now owning 19,050 shares valued at around $2.6 million after acquiring another 72 shares. SPC Financial Inc. also raised its stake in Clorox by 2.2%, owning 3,485 shares worth $476,000 after the transaction of an additional 75 shares. Lastly, Massmutual Trust Co. FSB ADV increased its ownership by 17.2% in the third quarter, ending up with 510 shares valued at $83,000 after buying 75 more shares. It’s noteworthy that institutional investors collectively own 78.53% of the shares in Clorox.

Analysts' Opinions

Recent commentary from equities research analysts has been mixed regarding Clorox's stock. Citigroup recently increased its price target for Clorox from $165.00 to $170.00 while maintaining a “neutral” rating. Deutsche Bank also raised its target price from $144.00 to $151.00, giving the stock a “hold” rating. Conversely, BNP Paribas downgraded the stock to a “strong sell” rating. TD Cowen upgraded Clorox from a “sell” to a “hold” rating, adjusting their price objective from $155.00 to $170.00. DA Davidson raised its target price from $153.00 to $171.00 while keeping a “neutral” rating. In summary, five analysts have issued sell ratings, ten have suggested holding the stock, and only one has given a buy rating, leading to an average rating of “Hold” with a consensus price target of $155.00 according to MarketBeat.com.

Current Stock Performance

On Friday, Clorox's stock opened at $165.20. The company has a significant debt-to-equity ratio of 11.08, with a current ratio of 1.00 and a quick ratio of 0.62. Over the past year, the stock has fluctuated between a low of $127.60 and a high of $169.09, with a market capitalization of $20.45 billion. Clorox displays a P/E ratio of 57.56 and a P/E/G ratio of 3.02, alongside a beta of 0.41. The company’s simple moving averages stand at $162.14 for the last 50 days and $146.83 for the last 200 days.

On October 30th, Clorox reported its latest earnings results, posting earnings per share (EPS) of $1.86, surpassing the analyst consensus estimate of $1.36 by $0.50. The company generated revenue of $1.76 billion for the quarter, exceeding expectations of $1.64 billion. Clorox also reported a net margin of 4.78% and an impressive return on equity of 316.08%, representing a year-over-year revenue increase of 27.0%. This earnings performance marks a significant improvement from the previous year, when it recorded an EPS of $0.49. Analysts forecast an EPS of 6.81 for the current fiscal year.

Dividend Announcement

Recently, Clorox declared a quarterly dividend, which was distributed on November 7th. Shareholders who were on record as of October 23rd received a dividend of $1.22 per share, with October 23rd also being the ex-dividend date. This results in an annualized dividend of $4.88, yielding 2.95%. It is important to note that Clorox's payout ratio stands at a substantial 170.04%, indicating a high proportion of earnings being returned to shareholders.

Insider Activity

In related insider news, Clorox’s EVP Angela C. Hilt sold 1,733 shares on September 6th, with the shares fetching an average price of $165.52, resulting in a transaction worth $286,846.16. Post-sale, the executive vice president retains ownership of 13,471 company shares, valued at approximately $2.23 million. The transaction reflects a negligible decrease of 0.00% in her ownership. Such details are documented in the SEC filing.

About The Clorox Company

The Clorox Company is a global leader in the manufacturing and marketing of consumer and professional products spanning various categories. The company operates through four key segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment includes a range of cleaning products, laundry additives, and home care items under renowned brands like Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409. Additionally, it provides professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare labels, along with food service products under the Hidden Valley brand. Clorox also offers vitamins, minerals, and supplement products via its RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the U.S.

investment, Clorox, stocks