Wells Fargo & Company Cuts Clorox (NYSE:CLX) Price Target to $90.00

Clorox (NYSE:CLX) had its price target cut by Wells Fargo & Company from $102.00 to $90.00 in a research report report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

CLX has been the subject of a number of other research reports. Wall Street Zen cut shares of Clorox from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. BNP Paribas Exane decreased their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Clorox in a research report on Friday, July 10th. Evercore set a $99.00 price objective on Clorox in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group downgraded Clorox from a “buy” rating to a “hold” rating and cut their price objective for the company from $125.00 to $98.00 in a report on Tuesday, July 28th. Twelve research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Clorox currently has a consensus rating of “Reduce” and an average target price of $101.40.

Clorox Stock Up 0.0%

Shares of NYSE:CLX opened at $87.78 on Friday. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 2.75 and a beta of 0.56. Clorox has a 12-month low of $84.70 and a 12-month high of $128.90. The business has a 50-day moving average price of $99.25 and a 200 day moving average price of $100.37. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80.

Clorox (NYSE:CLX) last posted its earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the company posted $2.87 earnings per share. Clorox’s revenue for the quarter was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Sell-side analysts expect that Clorox will post 5.8 EPS for the current year.

Clorox Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Wednesday, August 12th were paid a $1.25 dividend. This is an increase from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Wednesday, August 12th. Clorox’s payout ratio is presently 103.73%.

Institutional Trading of Clorox

Institutional investors have recently bought and sold shares of the business. Miramontes Capital LLC acquired a new position in shares of Clorox during the 2nd quarter worth about $319,000. Tidal Investments LLC increased its holdings in shares of Clorox by 26.4% in the 2nd quarter. Tidal Investments LLC now owns 38,464 shares of the company’s stock valued at $3,671,000 after acquiring an additional 8,031 shares during the last quarter. National Pension Service raised its position in shares of Clorox by 29.7% during the 2nd quarter. National Pension Service now owns 31,827 shares of the company’s stock worth $3,038,000 after acquiring an additional 7,291 shares in the last quarter. RFG Advisory LLC raised its position in shares of Clorox by 7.3% during the 2nd quarter. RFG Advisory LLC now owns 3,418 shares of the company’s stock worth $326,000 after acquiring an additional 232 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Clorox by 11.8% during the second quarter. NewEdge Advisors LLC now owns 75,135 shares of the company’s stock worth $7,171,000 after purchasing an additional 7,956 shares during the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Clorox Company Profile

The Clorox Company (NYSE: CLX) is a consumer products company that develops, manufactures and markets household, health and wellness, and lifestyle products. Its portfolio includes cleaning and disinfecting products, laundry and home-care items, food products, personal-care products, water-filtration systems, charcoal, and cat litter.

Clorox’s brands include Clorox bleach and disinfecting products, Pine-Sol, Fresh Step and Scoop Away, Kingsford, Brita, Burt’s Bees, Hidden Valley, and products marketed under the Glad name.