Citigroup Raises Clorox (NYSE:CLX) Price Target to $170.00

Clorox (NYSE:CLX) had its price objective hoisted by Citigroup from $165.00 to $170.00 in a research note released on Friday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their price objective on shares of Clorox from $135.00 to $130.00 and set an underweight rating for the company in a report on Wednesday, July 10th. BNP Paribas initiated coverage on shares of Clorox in a report on Monday, June 24th. They issued an underperform rating and a $130.00 price target for the company. Argus upgraded shares of Clorox to a hold rating in a research note on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Clorox from $144.00 to $151.00 and gave the company a hold rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Clorox from $150.00 to $148.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $143.50.

Clorox Stock Performance

Shares of CLX stock opened at $164.81 on Friday. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.03 and a quick ratio of 0.63. The company’s fifty day moving average price is $142.93 and its two-hundred day moving average price is $142.92. The firm has a market capitalization of $20.47 billion, a P/E ratio of 85.39, a P/E/G ratio of 3.21 and a beta of 0.39. Clorox has a 12 month low of $114.68 and a 12 month high of $166.49.

Clorox (NYSE:CLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.28. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.97 billion. Clorox had a net margin of 3.95% and a return on equity of 281.12%. On average, research analysts anticipate that Clorox will post 6.56 earnings per share for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, August 13th. This is a positive change from Clorox’s previous quarterly dividend of $1.20. Clorox’s dividend payout ratio (DPR) is currently 252.85%.

Institutional Investors Weigh In On Clorox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLX. Sanctuary Advisors LLC bought a new position in Clorox during the 2nd quarter valued at $2,964,000. Birmingham Capital Management Co. Inc. AL lifted its holdings in shares of Clorox by 3.8% in the second quarter. Birmingham Capital Management Co. Inc. AL now owns 8,602 shares of the company’s stock valued at $1,174,000 after buying an additional 311 shares during the period. SPC Financial Inc. grew its holdings in Clorox by 2.2% during the second quarter. SPC Financial Inc. now owns 3,485 shares of the company’s stock worth $476,000 after acquiring an additional 75 shares during the period. Wallace Capital Management Inc. boosted its position in shares of Clorox by 1.4% during the 2nd quarter. Wallace Capital Management Inc. now owns 13,354 shares of the company’s stock valued at $1,822,000 after purchasing an additional 180 shares in the last quarter. Finally, Regal Investment Advisors LLC lifted its stake in Clorox by 19.8% during the second quarter. Regal Investment Advisors LLC now owns 24,779 shares of the company’s stock valued at $3,382,000 after purchasing an additional 4,101 shares during the last quarter. Institutional investors own 78.53% of the company’s stock.

About Clorox

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.