According to Zacks, “Clorox's solid brand portfolio places it well to sustain in the currently challenging environment. The company remains keen on the execution of its 2020 Strategy, which is aimed at boosting growth and overall market share. However, significant global presence exposes Clorox to foreign currency risks, which have been hurting its results for a while now. Going forward, these woes, tough year-over-year comparisons and a challenging macroeconomic environment may pose concerns. Additionally, stiff competition and high trade spending remain threats. Nonetheless, the company’s key strategies, cost saving efforts and efficient pricing bode well, as they are likely to drive margins. These factors also caused the company to provide a robust sales and earnings outlook for fiscal 2017, as management remains confident of its core business strategies. Estimates have been stable ahead of its first quarter earnings release.”
Several other equities research analysts have also recently commented on the company. Atlantic Securities upgraded Clorox from a hold rating to a buy rating and set a $144.00 target price on the stock in a research note on Friday, September 16th. B. Riley restated a neutral rating and issued a $109.00 target price on shares of Clorox in a research note on Tuesday, August 9th. Citigroup Inc. upped their price objective on Clorox from $134.00 to $144.00 and gave the stock a neutral rating in a research note on Monday, August 8th. Goldman Sachs Group Inc. reiterated a neutral rating and set a $130.00 price objective on shares of Clorox in a research note on Thursday, August 4th. Finally, Jefferies Group reiterated a hold rating on shares of Clorox in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $128.90.
Shares of Clorox (NYSE:CLX) traded down 0.4706% during midday trading on Tuesday, hitting $121.4856. 271,506 shares of the stock traded hands. Clorox has a 12-month low of $118.33 and a 12-month high of $140.47. The company has a market capitalization of $15.73 billion, a PE ratio of 24.6922 and a beta of 0.29. The firm’s 50 day moving average price is $127.38 and its 200 day moving average price is $130.03.
Clorox (NYSE:CLX) last released its earnings results on Wednesday, August 3rd. The company reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm earned $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Clorox had a net margin of 11.25% and a return on equity of 296.91%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. Analysts expect that Clorox will post $5.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Wednesday, October 26th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Monday, October 24th. Clorox’s dividend payout ratio is 64.91%.
In other Clorox news, COO Dawn C. Willoughby sold 10,617 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $131.01, for a total value of $1,390,933.17. Following the transaction, the chief operating officer now directly owns 20,353 shares of the company’s stock, valued at approximately $2,666,446.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Nikolaos A. Vlahos sold 925 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $133.07, for a total value of $123,089.75. The disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Invictus RG purchased a new position in shares of Clorox during the first quarter worth approximately $110,000. Checchi Capital Advisers LLC raised its position in shares of 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 in the last quarter. Feltz Wealth PLAN Inc. purchased a new position in shares of Clorox during the second quarter worth approximately $114,000. Valley National Advisers Inc. raised its position in shares of Clorox by 0.6% in the second quarter. Valley National Advisers Inc. now owns 845 shares of the company’s stock worth $117,000 after buying an additional 5 shares in the last quarter. Finally, Blue Chip Partners Inc. raised its position in shares of Clorox by 7.1% in the second quarter. Blue Chip Partners Inc. now owns 890 shares of the company’s stock worth $123,000 after buying an additional 59 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.
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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