Clorox (CLX) Price Target Raised to $124.00

Clorox (NYSE:CLX) had its target price raised by Deutsche Bank from $123.00 to $124.00 in a report published on Thursday morning. The brokerage currently has a sell rating on the stock.

Other equities research analysts also recently issued reports about the stock. UBS Group began coverage on shares of Clorox in a research note on Wednesday, July 18th. They issued a sell rating and a $110.00 target price on the stock. BMO Capital Markets reaffirmed a buy rating and issued a $153.00 target price on shares of Clorox in a research note on Friday, August 3rd. ValuEngine raised shares of Clorox from a hold rating to a buy rating in a research note on Saturday, September 22nd. Zacks Investment Research raised shares of Clorox from a hold rating to a buy rating and set a $171.00 target price on the stock in a research note on Wednesday, October 3rd. Finally, Wells Fargo & Co raised their target price on shares of Clorox from $135.00 to $145.00 and gave the company a market perform rating in a research note on Wednesday, October 17th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $141.64.

Shares of Clorox stock traded up $0.47 on Thursday, reaching $154.20. The stock had a trading volume of 1,176,690 shares, compared to its average volume of 1,219,216. Clorox has a 1 year low of $113.57 and a 1 year high of $155.23. The company has a market cap of $19.68 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 3.71 and a beta of 0.28. The company has a current ratio of 1.07, a quick ratio of 0.67 and a debt-to-equity ratio of 3.38.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.03. Clorox had a net margin of 13.59% and a return on equity of 102.65%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts predict that Clorox will post 6.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Tuesday, October 30th. Clorox’s payout ratio is currently 61.34%.

In other Clorox news, SVP Michael R. Costello sold 9,265 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $140.02, for a total transaction of $1,297,285.30. Following the transaction, the senior vice president now directly owns 34,293 shares in the company, valued at $4,801,705.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Linda J. Rendle sold 382 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $148.32, for a total transaction of $56,658.24. The disclosure for this sale can be found here. Insiders have sold 29,268 shares of company stock worth $4,196,686 over the last quarter. Company insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CLX. Millennium Management LLC grew its position in Clorox by 539.2% during the first quarter. Millennium Management LLC now owns 63,727 shares of the company’s stock valued at $8,483,000 after acquiring an additional 53,757 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Clorox by 7.3% in the first quarter. Allianz Asset Management GmbH now owns 27,271 shares of the company’s stock worth $3,630,000 after purchasing an additional 1,848 shares during the last quarter. DnB Asset Management AS grew its holdings in shares of Clorox by 3.8% in the second quarter. DnB Asset Management AS now owns 16,540 shares of the company’s stock worth $2,237,000 after purchasing an additional 600 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Clorox by 39.3% in the second quarter. IFM Investors Pty Ltd now owns 5,795 shares of the company’s stock worth $784,000 after purchasing an additional 1,636 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Clorox by 2.1% in the second quarter. Fisher Asset Management LLC now owns 32,473 shares of the company’s stock worth $4,392,000 after purchasing an additional 662 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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Analyst Recommendations for Clorox (NYSE:CLX)

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