Clorox Co. (CLX) Lifted to Buy at Atlantic Securities
Atlantic Securities upgraded shares of Clorox Co. (NYSE:CLX) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $144.00 price objective on the stock.
Several other equities analysts also recently issued reports on the stock. B. Riley reissued a neutral rating and set a $109.00 price objective on shares of Clorox in a research note on Tuesday, August 9th. Citigroup Inc. upped their price target on shares of Clorox from $134.00 to $144.00 and gave the stock a neutral rating in a research report on Monday, August 8th. Zacks Investment Research raised shares of Clorox from a hold rating to a buy rating and set a $148.00 price target for the company in a research report on Monday, August 8th. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $130.00 price target on shares of Clorox in a research report on Thursday, August 4th. Finally, Jefferies Group reaffirmed a hold rating on shares of Clorox in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $128.90.
Shares of Clorox (NYSE:CLX) opened at 124.41 on Friday. The stock’s 50 day moving average is $129.33 and its 200 day moving average is $130.06. The stock has a market capitalization of $16.11 billion, a PE ratio of 25.29 and a beta of 0.33. Clorox has a 52-week low of $113.37 and a 52-week high of $140.47.
Clorox (NYSE:CLX) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Clorox had a net margin of 11.25% and a return on equity of 296.91%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. Equities research analysts expect that Clorox will post $5.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Wednesday, October 26th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Monday, October 24th. Clorox’s payout ratio is 64.91%.
In related news, COO Nikolaos A. Vlahos sold 925 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $133.07, for a total transaction of $123,089.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jon M. Balousek sold 5,136 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $131.14, for a total transaction of $673,535.04. Following the sale, the senior vice president now directly owns 15,384 shares of the company’s stock, valued at $2,017,457.76. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CLX. Legal & General Group Plc raised its stake in Clorox by 1.7% in the first quarter. Legal & General Group Plc now owns 682,421 shares of the company’s stock worth $86,041,000 after buying an additional 11,428 shares during the last quarter. First Republic Investment Management Inc. raised its stake in Clorox by 5.7% in the first quarter. First Republic Investment Management Inc. now owns 200,233 shares of the company’s stock worth $25,242,000 after buying an additional 10,868 shares during the last quarter. Shell Asset Management Co. raised its stake in Clorox by 9.6% in the second quarter. Shell Asset Management Co. now owns 103,486 shares of the company’s stock worth $14,321,000 after buying an additional 9,034 shares during the last quarter. Investment Centers of America Inc. raised its stake in Clorox by 14.9% in the first quarter. Investment Centers of America Inc. now owns 9,478 shares of the company’s stock worth $1,199,000 after buying an additional 1,232 shares during the last quarter. Finally, Mount Lucas Management LP raised its stake in Clorox by 45.1% in the first quarter. Mount Lucas Management LP now owns 54,774 shares of the company’s stock worth $6,905,000 after buying an additional 17,030 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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