Morgan Stanley Cuts Clorox (NYSE:CLX) Price Target to $110.00

Clorox (NYSE:CLX) had its target price lowered by Morgan Stanley from $136.00 to $110.00 in a research note released on Wednesday, MarketBeat reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Clorox from $101.00 to $100.00 and set a “hold” rating for the company in a research note on Monday, April 20th. BNP Paribas Exane raised shares of Clorox from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada lowered their target price on shares of Clorox from $132.00 to $127.00 and set a “sector perform” rating for the company in a research note on Thursday, April 9th. Jefferies Financial Group decreased their price target on shares of Clorox from $151.00 to $139.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, UBS Group reduced their target price on shares of Clorox from $121.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $111.33.

Clorox Price Performance

CLX stock opened at $98.68 on Wednesday. The firm has a 50 day moving average of $110.40 and a 200-day moving average of $109.48. Clorox has a 12-month low of $96.58 and a 12-month high of $143.96. The company has a current ratio of 0.74, a quick ratio of 0.48 and a debt-to-equity ratio of 71.03. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.48 and a beta of 0.65.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 383.01%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Clorox’s revenue was down .8% on a year-over-year basis. As a group, equities analysts expect that Clorox will post 5.87 EPS for the current fiscal year.

Clorox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Wednesday, April 22nd will be given a $1.24 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $4.96 annualized dividend and a dividend yield of 5.0%. Clorox’s payout ratio is presently 81.05%.

Institutional Investors Weigh In On Clorox

A number of institutional investors have recently modified their holdings of CLX. ProShare Advisors LLC boosted its stake in Clorox by 11.7% during the 3rd quarter. ProShare Advisors LLC now owns 1,297,016 shares of the company’s stock valued at $159,922,000 after purchasing an additional 136,135 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Clorox by 64.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 25,732 shares of the company’s stock worth $3,173,000 after purchasing an additional 10,065 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Clorox by 27.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 928,654 shares of the company’s stock valued at $114,506,000 after acquiring an additional 197,330 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Clorox by 1,395.4% in the 3rd quarter. Brookstone Capital Management now owns 94,332 shares of the company’s stock valued at $11,631,000 after acquiring an additional 88,024 shares in the last quarter. Finally, Eliot Finkel Investment Counsel LLC purchased a new stake in shares of Clorox in the 3rd quarter valued at approximately $1,697,000. Institutional investors own 78.53% of the company’s stock.

Clorox Company Profile

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.