Investors Buy Shares of Clorox Company (The) (CLX) on Weakness After Analyst Downgrade
Traders bought shares of Clorox Company (The) (NYSE:CLX) on weakness during trading hours on Friday after Morgan Stanley lowered their price target on the stock from $138.00 to $128.00. $43.02 million flowed into the stock on the tick-up and $22.26 million flowed out of the stock on the tick-down, for a money net flow of $20.76 million into the stock. Of all companies tracked, Clorox Company (The) had the 21st highest net in-flow for the day. Clorox Company (The) traded down ($1.17) for the day and closed at $128.11
A number of other equities research analysts have also issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Clorox Company (The) in a research note on Tuesday, September 12th. BidaskClub lowered Clorox Company (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating and set a $115.00 price target on shares of Clorox Company (The) in a research note on Sunday, October 8th. Deutsche Bank AG reissued a “hold” rating and set a $137.00 price target (up from $126.00) on shares of Clorox Company (The) in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $132.00 price target (down from $137.00) on shares of Clorox Company (The) in a research note on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $128.72.
In other Clorox Company (The) news, COO Dawn C. Willoughby sold 2,158 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $138.00, for a total transaction of $297,804.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jon M. Balousek sold 9,223 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $138.87, for a total value of $1,280,798.01. Following the transaction, the senior vice president now owns 20,614 shares in the company, valued at $2,862,666.18. The disclosure for this sale can be found here. Insiders have sold a total of 21,242 shares of company stock worth $2,944,449 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp increased its holdings in Clorox Company (The) by 14.5% during the 2nd quarter. Synovus Financial Corp now owns 8,786 shares of the company’s stock worth $1,173,000 after purchasing an additional 1,114 shares during the period. Shell Asset Management Co. increased its holdings in shares of Clorox Company (The) by 102.5% in the 3rd quarter. Shell Asset Management Co. now owns 119,382 shares of the company’s stock valued at $11,465,000 after acquiring an additional 60,427 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Clorox Company (The) in the 2nd quarter valued at $2,184,000. Ameriprise Financial Inc. increased its holdings in shares of Clorox Company (The) by 24.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,341,272 shares of the company’s stock valued at $178,433,000 after acquiring an additional 265,200 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Clorox Company (The) by 3.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 44,974 shares of the company’s stock valued at $5,992,000 after acquiring an additional 1,399 shares during the period. Institutional investors own 71.56% of the company’s stock.
The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 3.53 and a beta of 0.39. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.58 and a current ratio of 1.10.
Clorox Company (The) (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 analysts’ consensus estimates of $1.41 by $0.05. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Clorox Company (The) had a return on equity of 161.59% and a net margin of 11.84%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. equities research analysts expect that Clorox Company will post 5.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, October 24th. Clorox Company (The)’s payout ratio is 61.65%.
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About Clorox Company (The)
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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