Clorox Sees Unusually High Options Volume (NYSE:CLX)

The Clorox Company (NYSE:CLX) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 9,206 call options on the company. This is an increase of approximately 51% compared to the typical daily volume of 6,095 call options.

Clorox Stock Up 2.8%

Shares of NYSE CLX traded up $2.91 on Tuesday, reaching $108.44. 3,489,995 shares of the company’s stock traded hands, compared to its average volume of 2,673,146. Clorox has a 12 month low of $79.12 and a 12 month high of $128.90. The business’s 50 day simple moving average is $87.77 and its two-hundred day simple moving average is $99.64. The company has a market cap of $13.14 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 3.22 and a beta of 0.59. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 32.91.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Monday, November 2nd. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.48. Clorox had a return on equity of 608.30% and a net margin of 9.41%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, equities research analysts forecast that Clorox will post 5.75 EPS for the current fiscal year.

Clorox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Wednesday, October 28th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, October 28th. This represents a $5.00 dividend on an annualized basis and a yield of 4.6%. Clorox’s payout ratio is presently 89.93%.

Insider Buying and Selling at Clorox

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, for a total transaction of $400,240.00. Following the completion of the transaction, the director directly owned 22,000 shares of the company’s stock, valued at $2,201,320. This represents a 22.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Clorox

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC increased 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 purchasing an additional 7,956 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Clorox during the 2nd quarter valued at $3,277,000. Corient Private Wealth LP bought a new stake in Clorox in the second quarter worth $6,621,000. Allen Mooney & Barnes Investment Advisors LLC lifted its position in Clorox by 3,309.3% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 186,316 shares of the company’s stock worth $15,093,000 after buying an additional 180,851 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Clorox by 6.1% during the first quarter. Bank of America Corp DE now owns 1,405,774 shares of the company’s stock worth $145,680,000 after buying an additional 80,618 shares during the period. Institutional investors own 78.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Zacks Research downgraded Clorox from a “hold” rating to a “strong sell” rating in a report on Thursday, October 29th. Evercore upgraded Clorox from an “underperform” rating to a “hold” rating and set a $99.00 target price for the company in a research note on Monday, November 2nd. JPMorgan Chase & Co. lifted their price target on Clorox from $83.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, November 3rd. Morgan Stanley upped their price target on Clorox from $87.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $74.00 price objective on shares of Clorox in a research report on Tuesday, November 3rd. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $93.79.

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.