Clorox (NYSE:CLX) Price Target Increased to $161.00 by Analysts at Royal Bank of Canada

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Clorox (NYSE:CLX) had its target price boosted by Royal Bank of Canada to $161.00 in a report released on Friday morning, The Fly reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research firms have also recently weighed in on CLX. Argus cut Clorox from a buy rating to a hold rating in a research report on Monday, May 20th. Wells Fargo & Co restated a hold rating and issued a $153.00 price target on shares of Clorox in a research report on Thursday, August 1st. Deutsche Bank upgraded Clorox from a sell rating to a hold rating and set a $139.00 price target on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut Clorox from a neutral rating to an underweight rating and decreased their price target for the stock from $159.00 to $139.00 in a research report on Monday, April 8th. Finally, BMO Capital Markets set a $168.00 price target on Clorox and gave the stock a buy rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $154.07.

CLX stock opened at $155.03 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 4.09. The company has a market cap of $19.98 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 4.59 and a beta of 0.36. The stock’s fifty day moving average price is $157.77. Clorox has a fifty-two week low of $139.26 and a fifty-two week high of $167.70.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Clorox had a return on equity of 118.88% and a net margin of 13.20%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.66 EPS. Equities research analysts expect that Clorox will post 6.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Wednesday, July 31st will be given a $1.06 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.73%. This is a boost from Clorox’s previous quarterly dividend of $0.96. Clorox’s dividend payout ratio (DPR) is presently 67.09%.

In related news, SVP Denise Garner sold 20,399 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $157.61, for a total value of $3,215,086.39. Following the transaction, the senior vice president now owns 4,896 shares in the company, valued at $771,658.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its position in Clorox by 28.4% in the first quarter. Janus Henderson Group PLC now owns 1,771,185 shares of the company’s stock valued at $284,204,000 after acquiring an additional 391,569 shares during the last quarter. Geode Capital Management LLC grew its position in Clorox by 21.5% in the fourth quarter. Geode Capital Management LLC now owns 1,899,544 shares of the company’s stock valued at $292,347,000 after acquiring an additional 335,835 shares during the last quarter. Martingale Asset Management L P grew its position in Clorox by 152.4% in the first quarter. Martingale Asset Management L P now owns 211,703 shares of the company’s stock valued at $33,971,000 after acquiring an additional 127,816 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Clorox by 65.4% in the first quarter. PNC Financial Services Group Inc. now owns 299,966 shares of the company’s stock valued at $48,133,000 after acquiring an additional 118,660 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in Clorox by 41.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 402,319 shares of the company’s stock valued at $61,599,000 after acquiring an additional 117,272 shares during the last quarter. Institutional investors own 76.83% of the company’s stock.

About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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Analyst Recommendations for Clorox (NYSE:CLX)

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