Clorox (NYSE:CLX) Price Target Cut to $158.00

Clorox (NYSE:CLX) had its price target decreased by JPMorgan Chase & Co. from $159.00 to $158.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group assumed coverage on Clorox in a research report on Friday, March 1st. They set a sell rating and a $140.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Clorox from $155.00 to $151.00 and set a hold rating on the stock in a research report on Wednesday, April 17th. Morgan Stanley reaffirmed an equal weight rating and set a $160.00 price target on shares of Clorox in a research report on Tuesday, March 26th. Barclays cut their price target on Clorox from $148.00 to $136.00 and set an underweight rating on the stock in a research report on Wednesday, April 10th. Finally, DA Davidson reaffirmed a neutral rating and set a $162.00 price target on shares of Clorox in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $146.43.

Clorox Stock Performance

Shares of Clorox stock opened at $138.23 on Wednesday. The business has a 50-day moving average of $148.74 and a 200 day moving average of $143.08. Clorox has a 12 month low of $114.68 and a 12 month high of $176.24. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 71.62, a price-to-earnings-growth ratio of 2.08 and a beta of 0.44. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.38. Clorox had a return on equity of 302.49% and a net margin of 3.33%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted $1.51 EPS. Clorox’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Clorox will post 5.85 earnings per share for the current year.

Clorox Announces Dividend

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

Hedge Funds Weigh In On Clorox

Institutional investors have recently added to or reduced their stakes in the business. Choreo LLC increased its stake in Clorox by 12.8% in the fourth quarter. Choreo LLC now owns 5,741 shares of the company’s stock valued at $819,000 after purchasing an additional 652 shares during the last quarter. abrdn plc increased its stake in Clorox by 20.1% in the fourth quarter. abrdn plc now owns 198,250 shares of the company’s stock valued at $28,268,000 after purchasing an additional 33,135 shares during the last quarter. International Assets Investment Management LLC increased its stake in Clorox by 17,658.5% in the fourth 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. acquired a new position in Clorox in the third quarter valued at $6,605,000. Finally, Eagle Rock Investment Company LLC acquired a new position in Clorox in the fourth quarter valued at $2,940,000. 78.53% of the stock is currently owned by institutional investors and hedge funds.

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.