Clorox (NYSE:CLX) Sets New 12-Month Low – Time to Sell?

The Clorox Company (NYSE:CLX)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $80.84 and last traded at $81.1970, with a volume of 219475 shares traded. The stock had previously closed at $81.60.

Analysts Set New Price Targets

Several research firms have issued reports on CLX. Barclays restated an “underweight” rating and issued a $84.00 price objective on shares of Clorox in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on Clorox from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Tuesday, August 4th. Wells Fargo & Company decreased their target price on Clorox from $102.00 to $90.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th. Citigroup dropped their price target on Clorox from $100.00 to $97.00 and set a “neutral” rating on the stock in a research note on Friday, September 11th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Clorox in a research report on Friday, September 11th. Thirteen research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $101.40.

Clorox Trading Down 0.5%

The company has a fifty day moving average of $96.49 and a two-hundred day moving average of $97.35. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 2.55 and a beta of 0.56.

Clorox (NYSE:CLX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. Clorox’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, research analysts expect that The Clorox Company will post 5.8 EPS for the current year.

Clorox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $5.00 annualized dividend and a dividend yield of 6.2%. Clorox’s payout ratio is presently 103.73%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Clorox by 11.8% during the 2nd quarter. NewEdge Advisors LLC now owns 75,135 shares of the company’s stock valued at $7,171,000 after acquiring an additional 7,956 shares during the period. Corient Private Wealth LP acquired a new stake in shares of Clorox in the 2nd quarter worth approximately $6,621,000. Bank of America Corp DE increased its stake in Clorox by 6.1% in the 1st quarter. Bank of America Corp DE now owns 1,405,774 shares of the company’s stock valued at $145,680,000 after purchasing an additional 80,618 shares in the last quarter. HighTower Advisors LLC increased its stake in Clorox by 47.0% in the 2nd quarter. HighTower Advisors LLC now owns 83,053 shares of the company’s stock valued at $7,927,000 after purchasing an additional 26,552 shares in the last quarter. Finally, MAC Alpha Capital Management LP raised its holdings in Clorox by 88.7% during the second quarter. MAC Alpha Capital Management LP now owns 263,789 shares of the company’s stock worth $25,178,000 after purchasing an additional 124,019 shares during the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

About Clorox

The Clorox Company is a consumer and professional products company that develops, manufactures and markets household cleaning, disinfecting, wellness and personal care products. Its portfolio includes the Clorox bleach and cleaning brands, as well as products sold under brands such as Pine-Sol, Liquid-Plumr, Fresh Step, Scoop Away, Kingsford, Hidden Valley, Burt’s Bees and Brita.

Clorox also offers trash bags, food products, water-filtration systems, charcoal and grilling products, cat litter, and professional cleaning and disinfecting solutions.