Top 20 Dividend Stocks of 2024

15. The Clorox Company (NYSE:CLX)

Number of Hedge Fund Holders: 41

The Clorox Company (NYSE:CLX) is a California-based manufacturer and marketer of consumer and professional products. The company has encountered several major challenges in recent years. During the pandemic, sales surged as demand for cleaning products increased, but the company overestimated the lasting change in consumer behavior toward heightened hygiene. This led to overcommitment once pandemic restrictions were lifted. In addition, the company experienced a cyberattack in 2023. However, despite these difficulties, it reported that its supply chain has been fully restored, along with the recovery of most of the market share lost during the disruptions. The stock is up by roughly 12% in the past 12 months, which makes CLX one of the best dividend stocks of 2024.

In fiscal Q1 2025, The Clorox Company (NYSE:CLX) reported a 27% year-over-year increase in revenue, reaching $1.76 billion. The company achieved its eighth consecutive quarter of gross margin expansion, thanks to effective cost-saving measures, and is on track to fully restore its gross margin by fiscal year 2025. Additionally, Clorox completed the divestiture of its Better Health VMS business, following the earlier sale of its Argentina operations. These moves are part of the company’s strategy to streamline its portfolio, reduce volatility, boost sales growth, and improve its structural margin performance.

The Clorox Company (NYSE:CLX) also grabbed investors’ attention because of its cash position. In the first nine months of 2024, the company generated $221 million in operating cash flow, up 1,005% from the same period last year. Its quarterly dividend comes in at $1.22 per share and has a dividend yield of 3.02%, as of December 30.

The number of hedge funds tracked by Insider Monkey owning stakes in The Clorox Company (NYSE:CLX) grew to 41 in Q3 2024, from 38 in the previous quarter. These stakes are collectively valued at over $1.66 billion. Citadel Investment Group was the company’s leading stakeholder in Q3 among these hedge funds.