Wells Fargo & Company Cuts Clorox (NYSE:CLX) Price Target to $85.00

Clorox (NYSE:CLX) had its price objective cut by Wells Fargo & Company from $90.00 to $85.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also issued reports on CLX. Wall Street Zen lowered Clorox from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Evercore set a $99.00 target price on Clorox in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $98.00 price target on shares of Clorox in a research note on Tuesday, August 4th. Barclays reissued an “underweight” rating and set a $84.00 price target on shares of Clorox in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Clorox from $92.00 to $95.00 and gave the company an “underweight” rating in a research note on Tuesday, August 4th. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Clorox has an average rating of “Reduce” and a consensus price target of $99.36.

Clorox Stock Performance

NYSE:CLX opened at $82.12 on Monday. Clorox has a fifty-two week low of $79.12 and a fifty-two week high of $128.90. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The company has a 50 day moving average price of $94.63 and a 200 day moving average price of $96.17. The stock has a market capitalization of $9.93 billion, a P/E ratio of 17.04, a PEG ratio of 2.63 and a beta of 0.59.

Clorox (NYSE:CLX) last announced its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company earned $2.87 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Equities research analysts forecast that Clorox will post 5.77 EPS for the current year.

Clorox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, October 28th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, October 28th. Clorox’s payout ratio is presently 103.73%.

Institutional Investors Weigh In On Clorox

A number of hedge funds have recently bought and sold shares of the stock. Martin Capital Partners LLC boosted its stake in shares of Clorox by 1.4% in the 3rd quarter. Martin Capital Partners LLC now owns 46,563 shares of the company’s stock valued at $3,772,000 after buying an additional 625 shares during the period. Venture Visionary Partners LLC increased its stake in shares of Clorox by 51.9% during the third quarter. Venture Visionary Partners LLC now owns 55,522 shares of the company’s stock worth $4,625,000 after buying an additional 18,982 shares during the period. Elevation Wealth Partners LLC raised its holdings in Clorox by 32.3% in the third quarter. Elevation Wealth Partners LLC now owns 565 shares of the company’s stock valued at $46,000 after acquiring an additional 138 shares in the last quarter. Echo45 Advisors LLC acquired a new stake in Clorox in the third quarter valued at approximately $693,000. Finally, North Point Portfolio Managers Corp OH purchased a new position in Clorox in the third quarter worth approximately $132,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Clorox Company Profile

The Clorox Company is a consumer and professional products company that develops, manufactures and markets household cleaning, disinfecting, wellness and personal care products. Its portfolio includes the Clorox bleach and cleaning brands, as well as products sold under brands such as Pine-Sol, Liquid-Plumr, Fresh Step, Scoop Away, Kingsford, Hidden Valley, Burt’s Bees and Brita.

Clorox also offers trash bags, food products, water-filtration systems, charcoal and grilling products, cat litter, and professional cleaning and disinfecting solutions.