Clorox (NYSE:CLX) Reaches New 1-Year Low – Here’s Why

The Clorox Company (NYSE:CLX) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $96.36 and last traded at $96.71, with a volume of 2928879 shares. The stock had previously closed at $98.68.

Analyst Ratings Changes

A number of brokerages have recently commented on CLX. Royal Bank Of Canada lowered their price objective on Clorox from $132.00 to $127.00 and set a “sector perform” rating on the stock in a report on Thursday, April 9th. Wall Street Zen raised Clorox from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Jefferies Financial Group lowered their price objective on Clorox from $151.00 to $139.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Wells Fargo & Company lowered their price objective on Clorox from $125.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Finally, TD Cowen increased their price objective on Clorox from $98.00 to $111.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $111.33.

Clorox Stock Down 2.0%

The business’s 50 day moving average is $109.81 and its 200-day moving average is $109.17. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 0.49 and a beta of 0.65.

Clorox (NYSE:CLX) last released its 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 business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $1.55 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that The Clorox Company 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. Investors of record on Wednesday, April 22nd will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $4.96 dividend on an annualized basis and a yield of 5.1%. Clorox’s payout ratio is 81.05%.

Hedge Funds Weigh In On Clorox

A number of institutional investors and hedge funds have recently bought and sold shares of CLX. State Street Corp increased its holdings in shares of Clorox by 3.5% during the 3rd quarter. State Street Corp now owns 8,434,277 shares of the company’s stock worth $1,039,946,000 after purchasing an additional 282,794 shares during the period. Invesco Ltd. increased its holdings in shares of Clorox by 22.1% during the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock worth $492,085,000 after purchasing an additional 884,751 shares during the period. Geode Capital Management LLC increased its holdings in shares of Clorox by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,172,233 shares of the company’s stock worth $318,613,000 after purchasing an additional 10,060 shares during the period. Van ECK Associates Corp increased its holdings in shares of Clorox by 15.7% during the 4th quarter. Van ECK Associates Corp now owns 3,136,405 shares of the company’s stock worth $316,244,000 after purchasing an additional 426,433 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of Clorox by 33.8% during the 3rd quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company’s stock worth $214,564,000 after purchasing an additional 439,797 shares during the period. 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.