The Clorox Company (NYSE:CLX – Get Free Report) has been given an average rating of “Reduce” by the twelve brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $143.3636.
A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Clorox from $135.00 to $138.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. cut their price target on Clorox from $144.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Citigroup reaffirmed a “neutral” rating and set a $135.00 price objective (down previously from $140.00) on shares of Clorox in a research note on Tuesday, July 15th. UBS Group dropped their price objective on Clorox from $150.00 to $134.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Finally, Jefferies Financial Group dropped their price objective on Clorox from $167.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th.
Read Our Latest Stock Analysis on Clorox
Clorox Stock Performance
Clorox (NYSE:CLX – Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.63. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. Clorox had a return on equity of 377.86% and a net margin of 11.40%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 EPS. Equities research analysts forecast that Clorox will post 7.15 EPS for the current year.
Clorox Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $1.24 per share. This is a boost from Clorox’s previous quarterly dividend of $1.22. The ex-dividend date is Wednesday, August 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.1%. Clorox’s dividend payout ratio is currently 76.07%.
Hedge Funds Weigh In On Clorox
Large investors have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC bought a new position in Clorox during the 4th quarter worth about $31,000. GKV Capital Management Co. Inc. bought a new position in Clorox during the 4th quarter worth about $32,000. American National Bank & Trust increased its holdings in Clorox by 69.5% during the 2nd quarter. American National Bank & Trust now owns 217 shares of the company’s stock worth $26,000 after purchasing an additional 89 shares in the last quarter. NewSquare Capital LLC increased its holdings in Clorox by 567.6% during the 2nd quarter. NewSquare Capital LLC now owns 227 shares of the company’s stock worth $27,000 after purchasing an additional 193 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in Clorox during the 1st quarter worth about $35,000. Institutional investors own 78.53% of the company’s stock.
About Clorox
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.
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