Clorox (NYSE:CLX) Given New $85.00 Price Target at Wells Fargo & Company

Clorox (NYSE:CLX) had its price target lowered by Wells Fargo & Company from $90.00 to $85.00 in a report published on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

CLX has been the subject of a number of other reports. Evercore set a $99.00 price objective on Clorox in a research report on Tuesday, August 4th. Jefferies Financial Group downgraded shares of Clorox from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $98.00 in a research note on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price target on shares of Clorox from $92.00 to $95.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Clorox in a research report on Friday, July 10th. Finally, Barclays restated an “underweight” rating and set a $84.00 price objective on shares of Clorox in a research report on Tuesday, August 4th. Thirteen research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $101.07.

Clorox Trading Up 2.0%

Shares of NYSE:CLX opened at $82.03 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. The business has a 50 day moving average of $95.32 and a two-hundred day moving average of $96.52. Clorox has a 12-month low of $79.12 and a 12-month high of $128.90. The company has a market capitalization of $9.92 billion, a PE ratio of 17.02, a PEG ratio of 2.52 and a beta of 0.59.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm posted $2.87 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, analysts forecast that Clorox will post 5.8 EPS for the current year.

Clorox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Wednesday, October 28th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, October 28th. Clorox’s payout ratio is currently 103.73%.

Institutional Investors Weigh In On Clorox

A number of hedge funds have recently added to or reduced their stakes in CLX. Kestra Private Wealth Services LLC grew its stake in Clorox by 1.8% during the first quarter. Kestra Private Wealth Services LLC now owns 5,957 shares of the company’s stock worth $617,000 after buying an additional 104 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Clorox by 9.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,402 shares of the company’s stock valued at $145,000 after buying an additional 119 shares in the last quarter. Root Financial Partners LLC grew its position in Clorox by 83.8% in the first quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock valued at $33,000 after acquiring an additional 145 shares during the last quarter. Webster Bank N. A. grew its position in Clorox by 61.2% in the first quarter. Webster Bank N. A. now owns 395 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. Finally, Eastern Bank raised its stake in Clorox by 3.1% during the third quarter. Eastern Bank now owns 5,052 shares of the company’s stock worth $409,000 after acquiring an additional 150 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

About Clorox

The Clorox Company is a consumer and professional products company that develops, manufactures and markets household cleaning, disinfecting, wellness and personal care products. Its portfolio includes the Clorox bleach and cleaning brands, as well as products sold under brands such as Pine-Sol, Liquid-Plumr, Fresh Step, Scoop Away, Kingsford, Hidden Valley, Burt’s Bees and Brita.

Clorox also offers trash bags, food products, water-filtration systems, charcoal and grilling products, cat litter, and professional cleaning and disinfecting solutions.