Clorox Co. (NYSE:CLX) Receives $128.90 Consensus PT from Brokerages
Shares of Clorox Co. (NYSE:CLX) have received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the firm. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $128.90.
Several equities research analysts recently commented on the company. B. Riley reaffirmed a “neutral” rating and issued a $109.00 price target on shares of Clorox in a report on Thursday, August 4th. Atlantic Securities began coverage on Clorox in a research note on Tuesday, June 14th. They set a “neutral” rating and a $138.00 target price for the company. Zacks Investment Research raised Clorox from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of Clorox in a research note on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $131.00 target price (up previously from $125.00) on shares of Clorox in a research note on Friday, July 15th.
Clorox (NYSE:CLX) opened at 126.02 on Monday. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 25.61 and a beta of 0.33. The stock has a 50 day moving average price of $128.42 and a 200 day moving average price of $130.09. Clorox has a 52-week low of $114.06 and a 52-week high of $140.47.
Clorox (NYSE:CLX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by $0.02. Clorox had a net margin of 11.25% and a return on equity of 296.91%. The company earned $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $1.44 EPS. Clorox’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Clorox will post $5.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Wednesday, October 26th will be issued a $0.80 dividend. The ex-dividend date is Monday, October 24th. This represents a $3.20 dividend on an annualized basis and a yield of 2.54%. Clorox’s dividend payout ratio (DPR) is presently 64.91%.
In related news, COO Nikolaos A. Vlahos sold 925 shares of Clorox stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $133.07, for a total value of $123,089.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura Stein sold 38,882 shares of Clorox stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $131.69, for a total value of $5,120,370.58. Following the completion of the transaction, the executive vice president now owns 48,501 shares of the company’s stock, valued at $6,387,096.69. The disclosure for this sale can be found here. 2.09% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLX. Legal & General Group Plc raised its position in Clorox by 1.7% in the first quarter. Legal & General Group Plc now owns 682,421 shares of the company’s stock worth $86,041,000 after buying an additional 11,428 shares during the period. First Republic Investment Management Inc. raised its position in Clorox by 5.7% in the first quarter. First Republic Investment Management Inc. now owns 200,233 shares of the company’s stock worth $25,242,000 after buying an additional 10,868 shares during the period. Shell Asset Management Co. raised its position in Clorox by 9.6% in the second quarter. Shell Asset Management Co. now owns 103,486 shares of the company’s stock worth $14,321,000 after buying an additional 9,034 shares during the period. Boston Advisors LLC raised its position in Clorox by 14.3% in the second quarter. Boston Advisors LLC now owns 196,360 shares of the company’s stock worth $27,174,000 after buying an additional 24,501 shares during the period. Finally, Investment Centers of America Inc. raised its position in Clorox by 14.9% in the first quarter. Investment Centers of America Inc. now owns 9,478 shares of the company’s stock worth $1,199,000 after buying an additional 1,232 shares during the period. Hedge funds and other institutional investors own 70.27% of the company’s stock.
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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