Clorox (NYSE:CLX) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Clorox (NYSE:CLX) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other research analysts have also issued reports on CLX. Barclays restated an “underweight” rating and set a $84.00 target price on shares of Clorox in a research report on Tuesday, August 4th. The Goldman Sachs Group reiterated a “sell” rating and issued a $83.00 price target on shares of Clorox in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $98.00 price target on Clorox in a research report on Tuesday, August 4th. UBS Group raised their price objective on Clorox from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley dropped their price objective on Clorox from $110.00 to $97.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $102.40.

Clorox Trading Up 0.3%

Shares of CLX stock opened at $106.01 on Friday. The firm has a 50 day moving average price of $98.30 and a two-hundred day moving average price of $103.19. 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 company has a market capitalization of $12.82 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 3.15 and a beta of 0.54. Clorox has a 12-month low of $84.70 and a 12-month high of $128.90.

Clorox (NYSE:CLX) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $2.87 EPS. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, analysts predict that Clorox will post 5.82 earnings per share for the current year.

Clorox Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.25 per share. This is an increase from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, August 12th. Clorox’s dividend payout ratio (DPR) is presently 103.73%.

Institutional Investors Weigh In On Clorox

A number of large investors have recently modified their holdings of CLX. Equitable Holdings Inc. bought a new position in shares of Clorox in the 2nd quarter valued at $331,000. Centaurus Financial Inc. bought a new stake in shares of Clorox during the 2nd quarter worth $220,000. Public Employees Retirement System of Ohio bought a new stake in shares of Clorox during the 2nd quarter worth $3,277,000. MASTERINVEST Kapitalanlage GmbH acquired a new stake in Clorox in the second quarter valued at about $659,000. Finally, Parvin Asset Management LLC bought a new position in Clorox in the second quarter valued at about $1,570,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Clorox Company Profile

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.