Clorox (NYSE:CLX) Price Target Raised to $102.00

Clorox (NYSE:CLX) had its target price increased by Wells Fargo & Company from $95.00 to $102.00 in a report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. Zacks Research downgraded shares of Clorox from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Citigroup upped their target price on shares of Clorox from $97.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Clorox from $95.00 to $92.00 and set an “underweight” rating on the stock in a research report on Thursday, July 16th. Finally, BNP Paribas Exane decreased their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Twelve investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $102.40.

Clorox Stock Performance

Shares of CLX opened at $105.69 on Tuesday. The business’s 50 day moving average is $96.10 and its two-hundred day moving average is $103.45. Clorox has a 52-week low of $84.70 and a 52-week high of $128.90. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 3.15 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.66 and a debt-to-equity ratio of 15.80.

Clorox (NYSE:CLX) last released its earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business posted $2.87 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Analysts forecast that Clorox will post 5.82 EPS for the current fiscal year.

Clorox Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th will be issued a $1.25 dividend. This is a boost from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, August 12th. Clorox’s dividend payout ratio is presently 80.52%.

Institutional Trading of Clorox

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Clorox during the 4th quarter worth approximately $135,735,000. Bank of New York Mellon Corp acquired a new position in Clorox during the 2nd quarter valued at approximately $123,154,000. Invesco Ltd. boosted its position in Clorox by 22.1% during the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock valued at $492,085,000 after purchasing an additional 884,751 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Clorox by 6,907.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 749,703 shares of the company’s stock worth $75,593,000 after buying an additional 739,005 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Clorox during the 2nd quarter worth $71,856,000. 78.53% of the stock is owned by institutional investors and hedge funds.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.