The Clorox Company (NYSE:CLX) Receives Consensus Rating of “Reduce” from Analysts
by Teresa Graham · The Cerbat GemThe Clorox Company (NYSE:CLX – Get Free Report) has received an average recommendation of “Reduce” from the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $117.9333.
CLX has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Clorox from $110.00 to $94.00 and set a “sell” rating on the stock in a research note on Wednesday, January 7th. Barclays reiterated an “underweight” rating and set a $109.00 target price on shares of Clorox in a research report on Friday, January 16th. BNP Paribas Exane cut their target price on Clorox from $103.00 to $101.00 and set an “underperform” rating for the company in a research note on Friday, January 16th. TD Cowen lifted their price target on Clorox from $108.00 to $111.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Finally, UBS Group upped their price objective on Clorox from $115.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th.
View Our Latest Stock Report on CLX
Insider Activity at Clorox
In related news, Director Pierre R. Breber acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average price of $104.13 per share, with a total value of $416,520.00. Following the completion of the acquisition, the director owned 13,000 shares in the company, valued at approximately $1,353,690. This represents a 44.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in shares of Clorox by 138.3% in the 2nd quarter. Invesco Ltd. now owns 3,245,175 shares of the company’s stock worth $389,648,000 after acquiring an additional 1,883,465 shares during the period. Norges Bank acquired a new position in Clorox during the second quarter worth $190,429,000. Van ECK Associates Corp boosted its position in Clorox by 93.9% during the third quarter. Van ECK Associates Corp now owns 2,709,972 shares of the company’s stock worth $334,139,000 after purchasing an additional 1,312,471 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Clorox by 218.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,249,127 shares of the company’s stock valued at $149,983,000 after purchasing an additional 856,873 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Clorox by 6,907.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 749,703 shares of the company’s stock valued at $75,593,000 after buying an additional 739,005 shares in the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.
Clorox Price Performance
Shares of NYSE CLX opened at $121.47 on Friday. The company has a debt-to-equity ratio of 71.03, a current ratio of 0.74 and a quick ratio of 0.48. The stock has a fifty day moving average price of $106.41 and a 200 day moving average price of $113.58. Clorox has a 1-year low of $96.66 and a 1-year high of $159.04. The company has a market cap of $14.69 billion, a PE ratio of 19.85, a P/E/G ratio of 0.59 and a beta of 0.59.
Clorox (NYSE:CLX – Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.04). The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. Clorox had a net margin of 11.17% and a return on equity of 383.01%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Clorox will post 7.15 EPS for the current year.
Clorox Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 28th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.1%. Clorox’s dividend payout ratio is 81.05%.
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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