Clorox Co (CLX) to Issue Quarterly Dividend of $0.84
Clorox Co (NYSE:CLX) declared a quarterly dividend on Tuesday, November 14th, RTT News reports. Stockholders of record on Wednesday, January 24th will be given a dividend of 0.84 per share on Friday, February 9th. This represents a $3.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Tuesday, January 23rd.
Clorox has increased its dividend payment by an average of 4.2% per year over the last three years and has raised its dividend annually for the last 40 consecutive years. Clorox has a payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Clorox to earn $6.20 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 54.2%.
Shares of Clorox (NYSE CLX) opened at $144.32 on Thursday. Clorox has a 12-month low of $118.87 and a 12-month high of $150.40. The company has a market capitalization of $18,362.15, a PE ratio of 26.58, a P/E/G ratio of 3.72 and a beta of 0.42. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.10 and a quick ratio of 0.77.
In other Clorox news, SVP Michael R. Costello sold 10,574 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $136.01, for a total transaction of $1,438,169.74. Following the completion of the sale, the senior vice president now directly owns 34,867 shares of the company’s stock, valued at approximately $4,742,260.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew T. Laszlo sold 20,051 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $130.46, for a total value of $2,615,853.46. Following the sale, the senior vice president now directly owns 10,896 shares of the company’s stock, valued at $1,421,492.16. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
CLX has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “hold” rating and issued a $132.00 target price (down from $137.00) on shares of Clorox in a research report on Friday, October 6th. Zacks Investment Research lowered Clorox from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Morgan Stanley decreased their target price on Clorox from $138.00 to $128.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Consumer Edge raised Clorox from a “neutral” rating to an “outperform” rating in a research report on Friday, November 10th. Finally, Wells Fargo & Co boosted their target price on Clorox from $130.00 to $146.00 and gave the company a “market perform” rating in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $134.33.
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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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