Clorox (NYSE:CLX) Price Target Raised to $94.00

Clorox (NYSE:CLX) had its price target increased by Morgan Stanley from $87.00 to $94.00 in a report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also issued reports on CLX. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $95.00 target price on shares of Clorox in a research report on Monday, October 19th. Jefferies Financial Group lowered Clorox from a “buy” rating to a “hold” rating and dropped their price target for the company from $125.00 to $98.00 in a research report on Tuesday, July 28th. UBS Group set a $88.00 price target on Clorox in a research note on Tuesday. BNP Paribas Exane decreased their price objective on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. increased their price objective on Clorox from $83.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Clorox presently has an average rating of “Reduce” and an average target price of $93.79.

Clorox Trading Up 0.1%

Clorox stock traded up $0.10 during mid-day trading on Wednesday, reaching $99.80. 2,387,525 shares of the company traded hands, compared to its average volume of 2,530,187. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.66 and a quick ratio of 0.38. Clorox has a 52-week low of $79.12 and a 52-week high of $128.90. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 3.00 and a beta of 0.59. The firm’s 50 day moving average price is $87.71 and its 200 day moving average price is $99.67.

Clorox (NYSE:CLX) last posted its earnings results on Monday, November 2nd. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.07 by $0.48. Clorox had a net margin of 9.41% and a return on equity of 601.88%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the company posted $0.85 EPS. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. On average, analysts anticipate that Clorox will post 5.76 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, October 28th. This represents a $5.00 annualized dividend and a dividend yield of 5.0%. Clorox’s dividend payout ratio (DPR) is presently 89.93%.

Insider Activity

In related news, Director Pierre Breber purchased 4,000 shares of the stock in a transaction dated Wednesday, November 4th. The stock was purchased at an average price of $100.06 per share, with a total value of $400,240.00. Following the transaction, the director directly owned 22,000 shares in the company, valued at $2,201,320. This trade represents a 22.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Clorox

Several institutional investors have recently bought and sold shares of CLX. Diversified Trust Co bought a new position in Clorox in the 3rd quarter valued at approximately $4,122,000. Moors & Cabot Inc. bought a new stake in shares of Clorox in the 3rd quarter worth $340,000. Allworth Financial LP increased its holdings in shares of Clorox by 3.7% in the 3rd quarter. Allworth Financial LP now owns 6,165 shares of the company’s stock worth $499,000 after purchasing an additional 220 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Clorox by 10.0% in the third quarter. Fifth Third Bancorp now owns 51,518 shares of the company’s stock worth $4,173,000 after purchasing an additional 4,669 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in shares of Clorox by 11.4% in the third quarter. Maryland State Retirement & Pension System now owns 7,188 shares of the company’s stock worth $582,000 after purchasing an additional 733 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, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt’s Bees personal care items.