Daiwa Securities Group Inc. Grows Stake in The Clorox Company (NYSE:CLX)

Posted by Defense World Staff on May 4th, 2023

Daiwa Securities Group Inc. raised its stake in The Clorox Company (NYSE:CLX – Get Rating) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,634 shares of the company’s stock after acquiring an additional 446 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Clorox were worth $1,212,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc purchased a new stake in shares of Clorox during the 4th quarter valued at approximately $60,000. Financial Avengers Inc. lifted its stake in shares of Clorox by 86.0% during the 4th quarter. Financial Avengers Inc. now owns 225 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Legacy Financial Advisors Inc. lifted its stake in shares of Clorox by 5.4% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,450 shares of the company’s stock valued at $484,000 after buying an additional 177 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of Clorox during the 4th quarter valued at approximately $212,000. Finally, Banque Pictet & Cie SA lifted its stake in shares of Clorox by 38.7% during the 4th quarter. Banque Pictet & Cie SA now owns 17,245 shares of the company’s stock valued at $2,420,000 after buying an additional 4,813 shares in the last quarter. 79.12% of the stock is currently owned by hedge funds and other institutional investors.

Clorox Price Performance

Shares of NYSE:CLX opened at $175.61 on Thursday. The company’s fifty day moving average price is $157.85 and its 200-day moving average price is $149.64. The firm has a market capitalization of $21.69 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 3.34 and a beta of 0.30. The Clorox Company has a one year low of $120.50 and a one year high of $178.21. The company has a debt-to-equity ratio of 5.04, a current ratio of 0.86 and a quick ratio of 0.47.

Clorox (NYSE:CLX – Get Rating) last released its earnings results on Tuesday, May 2nd. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.22 by $0.29. Clorox had a net margin of 6.16% and a return on equity of 89.97%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm earned $1.31 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Clorox Company will post 4.24 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Investors of record on Wednesday, April 26th will be issued a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, April 25th. Clorox’s dividend payout ratio is currently 134.86%.

Analysts Set New Price Targets

A number of analysts recently commented on CLX shares. Bank of America upped their price target on shares of Clorox from $130.00 to $140.00 in a research note on Wednesday. Jefferies Financial Group upped their target price on shares of Clorox from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, February 1st. Morgan Stanley upped their target price on shares of Clorox from $142.00 to $145.00 and gave the stock an “equal weight” rating in a report on Friday, February 3rd. Raymond James upped their target price on shares of Clorox from $165.00 to $185.00 in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Clorox from $145.00 to $150.00 in a report on Wednesday. Seven investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $147.69.

Clorox Profile

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The Clorox Co engages in the manufacture and marketing of consumer and professional products. It operates through the following business segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment consists of cleaning products, professional products and vitamins, minerals and supplements mainly marketed and sold in the United States.