Clorox (NYSE:CLX) Price Target Raised to $86.00

Clorox (NYSE:CLX) had its target price hoisted by JPMorgan Chase & Co. from $83.00 to $86.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also issued reports on CLX. Citigroup lowered their price objective on Clorox from $97.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $95.00 target price on shares of Clorox in a research report on Monday, October 19th. Zacks Research lowered Clorox from a “hold” rating to a “strong sell” rating in a report on Thursday, October 29th. BNP Paribas Exane lowered their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $74.00 price target on shares of Clorox in a research report on Tuesday. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $93.79.

Clorox Stock Up 0.5%

Shares of NYSE CLX opened at $99.64 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 32.91. Clorox has a 12-month low of $79.12 and a 12-month high of $128.90. The firm’s 50-day moving average price is $87.79 and its 200-day moving average price is $99.72. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 3.22 and a beta of 0.59.

Clorox (NYSE:CLX) last released its quarterly earnings results on Monday, November 2nd. The company reported $1.55 EPS for the quarter, topping 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 company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was up 33.3% on a year-over-year basis. On average, equities research analysts anticipate that Clorox will post 5.78 EPS for the current fiscal year.

Clorox Dividend Announcement

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

Insider Transactions at Clorox

In other Clorox news, Director Pierre Breber bought 4,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was acquired at an average price of $100.06 per share, for a total transaction of $400,240.00. Following the completion of the transaction, the director directly owned 22,000 shares of the company’s stock, valued at approximately $2,201,320. This represents a 22.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clorox

A number of institutional investors and hedge funds have recently modified their holdings of CLX. Geneos Wealth Management Inc. increased its stake in Clorox by 9.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,402 shares of the company’s stock worth $145,000 after purchasing an additional 119 shares during the period. Elevation Wealth Partners LLC boosted its stake in shares of Clorox by 32.3% during the third quarter. Elevation Wealth Partners LLC now owns 565 shares of the company’s stock valued at $46,000 after purchasing an additional 138 shares during the period. Root Financial Partners LLC boosted its stake in shares of Clorox by 83.8% during the first quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock valued at $33,000 after purchasing an additional 145 shares during the period. Eastern Bank grew its holdings in shares of Clorox by 3.1% in the third quarter. Eastern Bank now owns 5,052 shares of the company’s stock worth $409,000 after purchasing an additional 150 shares during the last quarter. Finally, Mystic Asset Management Inc. grew its holdings in shares of Clorox by 1.3% in the third quarter. Mystic Asset Management Inc. now owns 12,112 shares of the company’s stock worth $981,000 after purchasing an additional 153 shares during the last quarter. 78.53% of the stock is owned by institutional investors.

Trending Headlines about Clorox

Here are the key news stories impacting Clorox this week:

• Positive Sentiment: Director Pierre Breber bought 4,000 shares for about $400,240, increasing his stake by 22.2% to 22,000 shares. The purchase may signal confidence in Clorox’s outlook. SEC filing
• Positive Sentiment: JPMorgan and UBS analysts said Clorox’s stock is expected to rise, adding to the positive analyst sentiment. JPMorgan analyst report UBS analyst report
• Positive Sentiment: Evercore upgraded Clorox’s stock rating, another supportive signal from analysts. Evercore rating report
• Neutral Sentiment: Morgan Stanley raised its price target from $87 to $94 but kept an “equal weight” rating; the new target remained below the referenced share price. Morgan Stanley rating information
• Negative Sentiment: Clorox’s margin outlook remains a concern: a comparison with PepsiCo highlighted rising costs and tight dividend coverage as risks. Clorox and PepsiCo dividend comparison
• Negative Sentiment: Other reports cited ETF net selling and Barclays maintaining its sell rating, indicating continued institutional and analyst caution. ETF flows report Barclays rating report

Clorox Company Profile

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.