Clorox (NYSE:CLX) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Clorox (NYSE:CLX) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley increased their price objective on Clorox from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Clorox from $83.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, November 3rd. Barclays dropped their target price on shares of Clorox from $84.00 to $80.00 and set an “underweight” rating on the stock in a report on Friday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Clorox in a research report on Tuesday. Finally, Zacks Research lowered shares of Clorox from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clorox has a consensus rating of “Reduce” and a consensus price target of $93.79.

Clorox Price Performance

CLX opened at $99.80 on Friday. The stock has a 50-day moving average price of $87.71 and a 200-day moving average price of $99.67. Clorox has a 12-month low of $79.12 and a 12-month high of $128.90. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 32.91. The stock has a market capitalization of $12.09 billion, a P/E ratio of 17.95, a PEG ratio of 3.15 and a beta of 0.59.

Clorox (NYSE:CLX) last issued its earnings results on Monday, November 2nd. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.07 by $0.48. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. Clorox had a net margin of 9.41% and a return on equity of 608.30%. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities analysts predict that Clorox will post 5.75 earnings per share for the current fiscal year.

Clorox Announces Dividend

The business 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 is Wednesday, October 28th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.0%. Clorox’s payout ratio is 89.93%.

Insider Activity

In related news, Director Pierre Breber purchased 4,000 shares of Clorox stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average price of $100.06 per share, with a total value of $400,240.00. Following the purchase, the director directly owned 22,000 shares of the company’s stock, valued at approximately $2,201,320. This represents a 22.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Clorox

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its position in Clorox by 9.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,402 shares of the company’s stock worth $145,000 after acquiring an additional 119 shares during the period. Elevation Wealth Partners LLC increased its holdings in shares of Clorox by 32.3% during the third quarter. Elevation Wealth Partners LLC now owns 565 shares of the company’s stock valued at $46,000 after purchasing an additional 138 shares during the period. Eastern Bank increased its holdings in shares of Clorox by 3.1% during the third quarter. Eastern Bank now owns 5,052 shares of the company’s stock valued at $409,000 after purchasing an additional 150 shares during the period. Mystic Asset Management Inc. raised its stake in shares of Clorox by 1.3% during the third quarter. Mystic Asset Management Inc. now owns 12,112 shares of the company’s stock valued at $981,000 after purchasing an additional 153 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its stake in shares of Clorox by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 3,228 shares of the company’s stock valued at $335,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

About Clorox

The Clorox Company is a consumer products company founded in 1913 and headquartered in Oakland, California. It makes and markets products for household cleaning, food, water filtration, personal care and pet care.

Its portfolio includes Clorox disinfecting and cleaning products, Glad trash bags and food-storage products, Kingsford charcoal, Brita water filters, Hidden Valley dressings and sauces, Burt’s Bees personal-care products, and Fresh Step cat litter. The company also sells products under brands such as Pine-Sol and Liquid-Plumr.

Clorox serves consumers primarily in the United States and also sells products in international markets.