Wells Fargo & Co. Reiterates Market Perform Rating for Clorox Co. (CLX)
Clorox Co. (NYSE:CLX)‘s stock had its “market perform” rating reiterated by analysts at Wells Fargo & Co. in a report issued on Tuesday.
A number of other research analysts have also recently issued reports on CLX. B. Riley reissued a “neutral” rating and set a $111.00 price objective on shares of Clorox in a report on Wednesday, November 9th. Zacks Investment Research lowered Clorox from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. RBC Capital Markets restated a “sector perform” rating and issued a $115.00 target price (down from $121.00) on shares of Clorox in a research note on Thursday, November 3rd. Jefferies Group restated a “hold” rating on shares of Clorox in a research note on Wednesday, August 3rd. Finally, Royal Bank Of Canada lowered their target price on Clorox from $121.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, November 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Clorox currently has a consensus rating of “Hold” and a consensus price target of $127.30.
Shares of Clorox (NYSE:CLX) opened at 113.98 on Tuesday. The firm has a market capitalization of $14.67 billion, a P/E ratio of 22.94 and a beta of 0.36. The firm has a 50-day moving average of $119.21 and a 200-day moving average of $128.20. Clorox has a one year low of $111.24 and a one year high of $140.47.
Clorox (NYSE:CLX) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by $0.06. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.24 billion. Clorox had a net margin of 11.27% and a return on equity of 250.82%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.32 earnings per share. On average, equities analysts predict that Clorox will post $5.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Wednesday, January 25th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, January 23rd. This represents a $3.20 dividend on an annualized basis and a yield of 2.81%. Clorox’s dividend payout ratio is presently 64.26%.
In related news, EVP Laura Stein sold 38,882 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $131.69, for a total transaction of $5,120,370.58. Following the transaction, the executive vice president now owns 48,501 shares in the company, valued at approximately $6,387,096.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jon M. Balousek sold 5,136 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $131.14, for a total value of $673,535.04. Following the transaction, the senior vice president now owns 15,384 shares in the company, valued at approximately $2,017,457.76. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Valley National Advisers Inc. increased its position in shares of Clorox by 0.5% in the third quarter. Valley National Advisers Inc. now owns 849 shares of the company’s stock worth $106,000 after buying an additional 4 shares in the last quarter. Jacobi Capital Management LLC increased its position in shares of Clorox by 0.3% in the third quarter. Jacobi Capital Management LLC now owns 1,274 shares of the company’s stock worth $155,000 after buying an additional 4 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Clorox by 1.0% in the second quarter. Checchi Capital Advisers LLC now owns 820 shares of the company’s stock worth $113,000 after buying an additional 8 shares during the period. Carroll Financial Associates Inc. increased its position in Clorox by 0.4% in the third quarter. Carroll Financial Associates Inc. now owns 3,361 shares of the company’s stock worth $420,000 after buying an additional 12 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in Clorox by 0.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,878 shares of the company’s stock worth $235,000 after buying an additional 13 shares during the period. Institutional investors own 69.89% 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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