Investors Buy Clorox (CLX) on Weakness
Traders purchased shares of Clorox Company (The) (NYSE:CLX) on weakness during trading hours on Thursday. $42.82 million flowed into the stock on the tick-up and $28.19 million flowed out of the stock on the tick-down, for a money net flow of $14.63 million into the stock. Of all equities tracked, Clorox had the 30th highest net in-flow for the day. Clorox traded down ($0.81) for the day and closed at $144.24
CLX has been the topic of several recent analyst reports. Jefferies Group reissued a “hold” rating and set a $137.00 target price (up previously from $136.00) on shares of Clorox in a report on Wednesday, August 9th. BMO Capital Markets reissued an “outperform” rating on shares of Clorox in a report on Tuesday, September 12th. Zacks Investment Research cut Clorox from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Royal Bank Of Canada reissued a “hold” rating and set a $115.00 target price on shares of Clorox in a report on Sunday, October 8th. Finally, Morgan Stanley dropped their target price on Clorox from $138.00 to $128.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Clorox presently has a consensus rating of “Hold” and a consensus target price of $128.72.
The company has a market cap of $18,652.26, a price-to-earnings ratio of 26.07, a P/E/G ratio of 3.93 and a beta of 0.43. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.10 and a quick ratio of 0.77.
Clorox (NYSE:CLX) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.05. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. Clorox had a net margin of 11.84% and a return on equity of 161.59%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 earnings per share. sell-side analysts expect that Clorox Company will post 5.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Wednesday, January 24th will be given a $0.84 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $3.36 annualized dividend and a yield of 2.33%. Clorox’s dividend payout ratio (DPR) is 61.88%.
In other Clorox news, SVP Michael R. Costello sold 10,574 shares of Clorox stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $136.01, for a total value of $1,438,169.74. Following the transaction, the senior vice president now owns 34,867 shares in the company, valued at $4,742,260.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matthew T. Laszlo sold 20,051 shares of Clorox stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $130.46, for a total transaction of $2,615,853.46. Following the completion of the transaction, the senior vice president now owns 10,896 shares in the company, valued at approximately $1,421,492.16. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its position in Clorox by 3.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 796 shares of the company’s stock worth $107,000 after purchasing an additional 29 shares in the last quarter. Valley National Advisers Inc. grew its position in Clorox by 0.6% during the 2nd quarter. Valley National Advisers Inc. now owns 865 shares of the company’s stock worth $115,000 after purchasing an additional 5 shares in the last quarter. Sun Life Financial INC grew its position in Clorox by 10,344.4% during the 2nd quarter. Sun Life Financial INC now owns 940 shares of the company’s stock worth $125,000 after purchasing an additional 931 shares in the last quarter. Blue Chip Partners Inc. grew its position in Clorox by 3.9% during the 2nd quarter. Blue Chip Partners Inc. now owns 941 shares of the company’s stock worth $125,000 after purchasing an additional 35 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new position in Clorox during the 2nd quarter worth approximately $133,000. Hedge funds and other institutional investors own 73.42% of the company’s stock.
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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