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

Shares of The Clorox Company (NYSE:CLX) hit a new 52-week low during trading on Thursday . The company traded as low as $82.46 and last traded at $82.3860, with a volume of 1284239 shares traded. The stock had previously closed at $83.94.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CLX. Barclays reissued an “underweight” rating and issued a $84.00 price objective on shares of Clorox in a research report on Tuesday, August 4th. Evercore set a $99.00 price target on Clorox in a report on Tuesday, August 4th. UBS Group restated a “neutral” rating on shares of Clorox in a research note on Friday, September 11th. BNP Paribas Exane dropped their price target on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Finally, Wells Fargo & Company reduced their price target on shares of Clorox from $102.00 to $90.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. Thirteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $101.40.

Clorox Stock Performance

The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.73 and a beta of 0.56. The stock’s 50-day moving average price is $97.66 and its 200-day moving average price is $98.25. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66.

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

Clorox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Wednesday, October 28th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $5.00 dividend on an annualized basis and a yield of 6.1%. Clorox’s dividend payout ratio (DPR) is presently 103.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Clorox by 106.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,375 shares of the company’s stock worth $418,000 after acquiring an additional 2,260 shares during the period. Andra AP fonden bought a new stake in Clorox in the second quarter worth $200,000. MAC Alpha Capital Management LP lifted its position in shares of Clorox by 88.7% in the 2nd quarter. MAC Alpha Capital Management LP now owns 263,789 shares of the company’s stock worth $25,178,000 after purchasing an additional 124,019 shares during the period. Security National Bank of SO Dak purchased a new position in Clorox in the 2nd quarter worth $57,000. Finally, Anchor Investment Management LLC raised its position in Clorox by 13.0% during the second quarter. Anchor Investment Management LLC now owns 14,719 shares of the company’s stock worth $1,405,000 after acquiring an additional 1,699 shares during the period. 78.53% of the stock is owned by institutional investors.

About Clorox

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.