Clorox (NYSE:CLX) Sets New 1-Year Low – Should You Sell?

The Clorox Company (NYSE:CLX)’s share price reached a new 52-week low on Wednesday. The stock traded as low as $80.84 and last traded at $81.1970, with a volume of 219475 shares changing hands. The stock had previously closed at $81.60.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $98.00 price target on Clorox in a research note on Tuesday, August 4th. Zacks Research upgraded Clorox from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Wall Street Zen raised Clorox from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Citigroup decreased their target price on Clorox from $100.00 to $97.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Finally, Barclays restated an “underweight” rating and set a $84.00 target price on shares of Clorox in a report on Tuesday, August 4th. Thirteen research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Clorox has an average rating of “Reduce” and an average target price of $101.40.

Clorox Price Performance

The stock’s 50 day moving average is $96.49 and its two-hundred day moving average is $97.35. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. The stock has a market capitalization of $9.81 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.55 and a beta of 0.56.

Clorox (NYSE:CLX) last issued 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 company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm earned $2.87 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, sell-side analysts forecast that The Clorox Company will post 5.8 earnings per share for the current fiscal year.

Clorox Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Wednesday, October 28th. Clorox’s payout ratio is 103.73%.

Institutional Trading of Clorox

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Clorox in the 2nd quarter valued at about $958,640,000. Geode Capital Management LLC lifted its stake in Clorox by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company’s stock worth $318,613,000 after purchasing an additional 10,060 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Clorox by 15.7% in the fourth quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company’s stock valued at $316,244,000 after purchasing an additional 426,433 shares in the last quarter. Bank of America Corp DE acquired a new position in Clorox in the second quarter valued at approximately $179,780,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Clorox by 9.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,619,396 shares of the company’s stock valued at $163,284,000 after purchasing an additional 142,463 shares during the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Company Profile

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.