UBS Group Trims Clorox (NYSE:CLX) Target Price to $159.00

Clorox (NYSE:CLX) had its target price reduced by UBS Group from $164.00 to $159.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. 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 price target for the company. JPMorgan Chase & Co. cut their price target on Clorox from $159.00 to $158.00 and set a neutral rating for the company in a research note on Wednesday. Barclays reduced their target price on shares of Clorox from $148.00 to $136.00 and set an underweight rating for the company in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Clorox from $155.00 to $151.00 and set a hold rating on the stock in a research note on Wednesday, April 17th. Finally, DA Davidson reiterated a neutral rating and issued a $162.00 price objective on shares of Clorox in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $146.43.

Clorox Stock Down 1.0 %

CLX opened at $138.23 on Wednesday. Clorox has a fifty-two week low of $114.68 and a fifty-two week high of $176.24. The firm has a market capitalization of $17.17 billion, a P/E ratio of 71.62, a PEG ratio of 2.08 and a beta of 0.44. The company’s 50-day moving average is $148.74 and its 200 day moving average is $143.08. The company has a debt-to-equity ratio of 9.73, a current ratio of 0.90 and a quick ratio of 0.57.

Clorox (NYSE:CLX) last announced its earnings results on Tuesday, April 30th. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.38. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.87 billion. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.51 EPS. Research analysts expect that Clorox will post 5.85 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Wednesday, April 24th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Tuesday, April 23rd. Clorox’s dividend payout ratio (DPR) is 248.70%.

Institutional Investors Weigh In On Clorox

Several hedge funds have recently bought and sold shares of CLX. Choreo LLC lifted its holdings in shares of Clorox by 12.8% during the 4th quarter. Choreo LLC now owns 5,741 shares of the company’s stock worth $819,000 after acquiring an additional 652 shares during the last quarter. abrdn plc boosted its holdings in shares of Clorox by 20.1% in the 4th quarter. abrdn plc now owns 198,250 shares of the company’s stock worth $28,268,000 after purchasing an additional 33,135 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Clorox by 17,658.5% during the 4th quarter. International Assets Investment Management LLC now owns 484,453 shares of the company’s stock valued at $69,078,000 after purchasing an additional 481,725 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Clorox during the 3rd quarter valued at about $6,605,000. Finally, Eagle Rock Investment Company LLC bought a new stake in Clorox in the 4th quarter worth approximately $2,940,000. 78.53% of the stock is currently owned by institutional investors.

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.