Clorox Sees Unusually High Options Volume (NYSE:CLX)

The Clorox Company (NYSE:CLX) saw unusually large options trading on Tuesday. Stock investors acquired 58,784 call options on the stock. This is an increase of approximately 816% compared to the average daily volume of 6,420 call options.

Hedge Funds Weigh In On Clorox

A number of hedge funds have recently added to or reduced their stakes in CLX. Wilkins Investment Counsel Inc. lifted its holdings in shares of Clorox by 250.6% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 55,064 shares of the company’s stock worth $5,552,000 after purchasing an additional 39,360 shares during the last quarter. Morningstar Investment Management LLC increased its position in Clorox by 131.8% in the fourth quarter. Morningstar Investment Management LLC now owns 62,454 shares of the company’s stock worth $6,297,000 after buying an additional 35,506 shares during the period. Bank of America Corp DE lifted its stake in Clorox by 6.1% in the first quarter. Bank of America Corp DE now owns 1,405,774 shares of the company’s stock valued at $145,680,000 after buying an additional 80,618 shares during the last quarter. National Pension Service boosted its holdings in shares of Clorox by 68.9% during the fourth quarter. National Pension Service now owns 27,537 shares of the company’s stock valued at $2,777,000 after acquiring an additional 11,233 shares during the period. Finally, Birch Hill Investment Advisors LLC bought a new position in shares of Clorox during the fourth quarter worth about $22,103,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their price target on Clorox from $95.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Clorox in a research note on Friday, July 10th. Evercore set a $99.00 price objective on shares of Clorox in a report on Tuesday, August 4th. Jefferies Financial Group downgraded Clorox from a “buy” rating to a “hold” rating and lowered their target price for the company from $125.00 to $98.00 in a research note on Tuesday, July 28th. Finally, Barclays reaffirmed an “underweight” rating and set a $84.00 target price on shares of Clorox in a research report on Tuesday, August 4th. Twelve analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $102.40.

Clorox Stock Up 0.6%

CLX stock traded up $0.61 during mid-day trading on Tuesday, hitting $108.31. 2,546,280 shares of the company were exchanged, compared to its average volume of 2,558,635. The company has a market capitalization of $13.10 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.13 and a beta of 0.54. The firm has a fifty day simple moving average of $96.78 and a 200 day simple moving average of $103.40. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. Clorox has a twelve month low of $84.70 and a twelve month high of $128.90.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. On average, research analysts forecast that Clorox will post 5.82 earnings per share for the current fiscal year.

Clorox Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 12th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, August 12th. This is a positive change from Clorox’s previous quarterly dividend of $1.24. Clorox’s payout ratio is 103.73%.

Clorox Company Profile

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.