Investors Buy Clorox Co. (CLX) on Weakness
Traders purchased shares of Clorox Co. (NYSE:CLX) on weakness during trading hours on Wednesday. $59.84 million flowed into the stock on the tick-up and $29.06 million flowed out of the stock on the tick-down, for a money net flow of $30.78 million into the stock. Of all companies tracked, Clorox had the 10th highest net in-flow for the day. Clorox traded down ($1.03) for the day and closed at $138.21
A number of research analysts have commented on CLX shares. Barclays PLC upped their price target on Clorox from $112.00 to $120.00 and gave the stock an “underweight” rating in a research note on Monday, March 21st. Zacks Investment Research cut Clorox from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. JPMorgan Chase & Co. restated a “sell” rating and set a $120.00 price target on shares of Clorox in a research note on Monday, May 2nd. Goldman Sachs Group Inc. upped their price target on Clorox from $125.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 3rd. Finally, B. Riley restated a “neutral” rating and set a $109.00 price target (up from $102.00) on shares of Clorox in a research note on Thursday, May 5th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $124.10.
The company’s 50-day moving average is $132.24 and its 200-day moving average is $128.60. The firm has a market cap of $17.88 billion and a PE ratio of 27.00.
Clorox (NYSE:CLX) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.10. During the same quarter last year, the company earned $1.08 EPS. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.41 billion. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Clorox Co. will post $4.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Wednesday, July 27th will be paid a dividend of $0.80 per share. This is a positive change from Clorox’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Monday, July 25th. This represents a $3.20 annualized dividend and a dividend yield of 2.32%.
In other news, COO Nikolaos A. Vlahos sold 2,151 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $132.25, for a total transaction of $284,469.75. Following the transaction, the chief operating officer now owns 13,883 shares in the company, valued at approximately $1,836,026.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Other hedge funds and institutional investors have made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Clorox by 10.6% in the fourth quarter. ProShare Advisors LLC now owns 196,218 shares of the company’s stock valued at $24,886,000 after buying an additional 18,791 shares during the period. Boys Arnold & Co. Inc. raised its position in shares of Clorox by 100.0% in the fourth quarter. Boys Arnold & Co. Inc. now owns 18,827 shares of the company’s stock valued at $2,388,000 after buying an additional 9,415 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Clorox by 140.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 9,109 shares of the company’s stock valued at $1,155,000 after buying an additional 5,318 shares during the period. Parkwood LLC raised its position in shares of Clorox by 8.7% in the fourth quarter. Parkwood LLC now owns 8,923 shares of the company’s stock valued at $1,132,000 after buying an additional 717 shares during the period. Finally, Boston Family Office LLC raised its position in shares of Clorox by 2.9% in the fourth quarter. Boston Family Office LLC now owns 15,429 shares of the company’s stock valued at $1,957,000 after buying an additional 430 shares during the period.