Clorox (CLX) Price Target Cut to $133.00 by Analysts at Morgan Stanley
Clorox (NYSE:CLX) had its price target trimmed by Morgan Stanley from $140.00 to $133.00 in a research report sent to investors on Monday. The brokerage currently has an equal weight rating on the stock.
A number of other analysts have also issued reports on the stock. Deutsche Bank started coverage on shares of Clorox in a research note on Wednesday, December 13th. They set a hold rating and a $142.00 price target on the stock. Wells Fargo & Co reiterated a hold rating and set a $130.00 price target on shares of Clorox in a research note on Wednesday, December 13th. Royal Bank of Canada reiterated a hold rating and set a $115.00 price target on shares of Clorox in a research note on Sunday, October 8th. Consumer Edge upgraded shares of Clorox from a neutral rating to an outperform rating in a research note on Friday, November 10th. Finally, Bank of America upgraded shares of Clorox from an underperform rating to a neutral rating and set a $155.00 price target on the stock in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $132.26.
Shares of Clorox (NYSE CLX) opened at $127.82 on Monday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.86 and a current ratio of 1.22. The stock has a market cap of $16,790.00, a PE ratio of 21.06, a price-to-earnings-growth ratio of 3.11 and a beta of 0.31. Clorox has a one year low of $124.09 and a one year high of $150.40.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Wednesday, January 24th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.63%. Clorox’s payout ratio is 55.35%.
In related news, SVP Michael R. Costello sold 10,574 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $136.01, for a total transaction of $1,438,169.74. Following the sale, the senior vice president now directly owns 34,867 shares in the company, valued at $4,742,260.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. increased its stake in shares of Clorox by 1.2% during the second quarter. Moors & Cabot Inc. now owns 2,557 shares of the company’s stock worth $339,000 after buying an additional 30 shares during the period. WFG Advisors LP increased its stake in shares of Clorox by 7.2% during the second quarter. WFG Advisors LP now owns 1,571 shares of the company’s stock worth $209,000 after buying an additional 106 shares during the period. Candriam Luxembourg S.C.A. increased its stake in shares of Clorox by 3.8% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 10,997 shares of the company’s stock worth $1,636,000 after buying an additional 398 shares during the period. Cetera Investment Advisers increased its stake in shares of Clorox by 17.9% during the second quarter. Cetera Investment Advisers now owns 2,627 shares of the company’s stock worth $348,000 after buying an additional 399 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its stake in shares of Clorox by 8.4% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,172 shares of the company’s stock worth $683,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 73.68% of the company’s stock.
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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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