Clorox (NYSE:CLX) Upgraded at Evercore

Evercore upgraded shares of Clorox (NYSE:CLX) from an underperform rating to a hold rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Evercore currently has $99.00 target price on the stock.

CLX has been the topic of a number of other reports. Morgan Stanley decreased their target price on shares of Clorox from $97.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 15th. Wall Street Zen lowered Clorox from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Barclays cut their price target on Clorox from $84.00 to $80.00 and set an “underweight” rating for the company in a report on Friday, October 16th. Citigroup reduced their price objective on Clorox from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Finally, TD Cowen reduced their price objective on Clorox from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $93.79.

Clorox Trading Up 5.7%

CLX stock opened at $99.12 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 32.91. The business’s 50-day moving average is $87.88 and its 200 day moving average is $99.77. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.09 and a beta of 0.59. Clorox has a 12-month low of $79.12 and a 12-month high of $128.90.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Monday, November 2nd. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.07 by $0.48. Clorox had a return on equity of 608.30% and a net margin of 9.41%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $0.85 EPS. The firm’s revenue was up 33.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Clorox will post 5.75 EPS for the current fiscal year.

Clorox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Wednesday, October 28th will be given a $1.25 dividend. The ex-dividend date is Wednesday, October 28th. This represents a $5.00 dividend on an annualized basis and a yield of 5.0%. Clorox’s payout ratio is currently 89.93%.

Hedge Funds Weigh In On Clorox

Hedge funds have recently modified their holdings of the business. Equity Investment Corp increased its position in Clorox by 34.8% during the third quarter. Equity Investment Corp now owns 1,578,983 shares of the company’s stock worth $127,913,000 after buying an additional 407,569 shares during the period. New York Life Investment Management LLC boosted its holdings in shares of Clorox by 3.9% in the third quarter. New York Life Investment Management LLC now owns 34,279 shares of the company’s stock valued at $2,777,000 after acquiring an additional 1,302 shares during the period. Beutel Goodman & Co Ltd. acquired a new stake in shares of Clorox in the third quarter valued at approximately $163,038,000. M&G PLC boosted its holdings in shares of Clorox by 67.4% in the third quarter. M&G PLC now owns 75,295 shares of the company’s stock valued at $6,099,000 after acquiring an additional 30,325 shares during the period. Finally, AlphaCore Capital LLC grew its position in shares of Clorox by 94.6% during the third quarter. AlphaCore Capital LLC now owns 9,114 shares of the company’s stock worth $738,000 after acquiring an additional 4,431 shares during the last quarter. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

Clorox News Summary

Here are the key news stories impacting Clorox this week:

• Positive Sentiment: Clorox beat first-quarter earnings and revenue estimates, with higher sales, cost savings and contributions from GOJO supporting results. It maintained fiscal 2027 adjusted EPS guidance of $5.70–$6.00 and revenue guidance of $7.6 billion–$7.7 billion. Clorox Q1 Earnings Beat Estimates on Higher Sales & Cost Savings
• Neutral Sentiment: Analyst views are mixed. Morgan Stanley raised its target to $94 but kept an equal-weight rating; UBS raised its target to $96 and maintained neutral, while Barclays reiterated a sell rating. Morgan Stanley rating and price target
• Negative Sentiment: Inflation and other rising costs are squeezing margins, and reports indicate Clorox expects earnings nearer the low end of its forecast. That could limit the benefit of the quarterly beat. Q1 Earnings Call Highlights Inflation and Margin Pressures
• Negative Sentiment: Investors also face concerns about dividend coverage and increased debt following the GOJO acquisition, while management’s comments about consumer spending point to a potentially challenging economic backdrop. Clorox Earnings Outlook and Dividend Concerns

About Clorox

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt’s Bees personal care items.