Clorox (NYSE:CLX) Shares Gap Down Following Analyst Downgrade

The Clorox Company (NYSE:CLX)’s share price gapped down prior to trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $159.00 to $158.00. The stock had previously closed at $147.87, but opened at $139.84. JPMorgan Chase & Co. currently has a neutral rating on the stock. Clorox shares last traded at $136.85, with a volume of 718,362 shares trading hands.

A number of other research analysts have also issued reports on CLX. Deutsche Bank Aktiengesellschaft decreased their target price on Clorox from $155.00 to $151.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group began coverage on shares of Clorox in a research note on Friday, March 1st. They set a “sell” rating and a $140.00 target price for the company. Barclays lowered their price objective on Clorox from $148.00 to $136.00 and set an “underweight” rating on the stock in a report on Wednesday, April 10th. Evercore ISI lowered their price target on Clorox from $145.00 to $142.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, UBS Group boosted their price target on Clorox from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, Clorox currently has a consensus rating of “Hold” and a consensus price target of $150.38.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its position in shares of Clorox by 0.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 13,900 shares of the company’s stock valued at $1,982,000 after acquiring an additional 66 shares during the last quarter. Lindbrook Capital LLC raised its position in Clorox by 6.2% in the first quarter. Lindbrook Capital LLC now owns 1,182 shares of the company’s stock valued at $181,000 after purchasing an additional 69 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its stake in Clorox by 3.2% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 2,257 shares of the company’s stock worth $322,000 after purchasing an additional 71 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of Clorox by 1.4% during the third quarter. Modera Wealth Management LLC now owns 5,130 shares of the company’s stock worth $672,000 after buying an additional 71 shares during the period. Finally, Czech National Bank raised its holdings in shares of Clorox by 0.3% in the 4th quarter. Czech National Bank now owns 21,718 shares of the company’s stock valued at $3,097,000 after buying an additional 71 shares during the period. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Clorox Stock Down 5.3 %

The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 11.37. The company has a market capitalization of $17.37 billion, a PE ratio of 220.21, a PEG ratio of 2.35 and a beta of 0.43. The business has a fifty day moving average of $149.26 and a 200 day moving average of $143.12.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.33 by $0.38. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.87 billion. Clorox had a net margin of 1.09% and a return on equity of 319.41%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 earnings per share. Equities research analysts anticipate that The Clorox Company will post 5.52 EPS for the current year.

Clorox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Wednesday, April 24th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, April 23rd. Clorox’s payout ratio is currently 761.92%.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.