Clorox (NYSE:CLX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Clorox (NYSE:CLX) announced its quarterly earnings data on Monday. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02, FiscalAI reports. Clorox had a return on equity of 443.64% and a net margin of 11.18%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion.

Clorox Trading Up 2.9%

NYSE CLX traded up $2.72 during mid-day trading on Monday, reaching $98.25. 3,870,395 shares of the stock were exchanged, compared to its average volume of 2,535,162. Clorox has a 1-year low of $84.70 and a 1-year high of $128.90. The business’s fifty day simple moving average is $95.51 and its 200 day simple moving average is $103.64. The stock has a market capitalization of $11.88 billion, a PE ratio of 15.95 and a beta of 0.54. The company has a debt-to-equity ratio of 27.03, a quick ratio of 0.65 and a current ratio of 0.84.

Clorox Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Wednesday, August 12th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 annualized dividend and a dividend yield of 5.1%. Clorox’s payout ratio is currently 80.52%.

Insiders Place Their Bets

In other Clorox news, Director Pierre R. Breber acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $85.82 per share, for a total transaction of $429,100.00. Following the completion of the acquisition, the director directly owned 18,000 shares of the company’s stock, valued at $1,544,760. This trade represents a 38.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Clorox

Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in Clorox by 3.5% during the third quarter. State Street Corp now owns 8,434,277 shares of the company’s stock worth $1,039,946,000 after acquiring an additional 282,794 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Clorox by 22.1% in the 4th quarter. Invesco Ltd. now owns 4,880,341 shares of the company’s stock valued at $492,085,000 after purchasing an additional 884,751 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Clorox by 33.8% in the 3rd quarter. Two Sigma Investments LP now owns 1,740,175 shares of the company’s stock valued at $214,564,000 after purchasing an additional 439,797 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Clorox by 4.8% during the 3rd quarter. Northern Trust Corp now owns 1,539,006 shares of the company’s stock worth $189,759,000 after purchasing an additional 70,783 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Clorox by 18.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,476,933 shares of the company’s stock worth $182,106,000 after purchasing an additional 227,806 shares in the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BNP Paribas Exane lowered their price target on shares of Clorox from $97.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Citigroup reduced their price target on shares of Clorox from $110.00 to $97.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their price target on Clorox from $95.00 to $92.00 and set an “underweight” rating on the stock in a report on Thursday, July 16th. Jefferies Financial Group downgraded Clorox from a “buy” rating to a “hold” rating and dropped their price objective for the company from $125.00 to $98.00 in a research note on Tuesday, July 28th. Finally, UBS Group lifted their price objective on Clorox from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Twelve research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $101.00.

About Clorox

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.