The Clorox (NYSE:CLX) Sees Unusually-High Trading Volume

The Clorox Company (NYSE:CLX) saw an uptick in trading volume on Thursday . 24,612 shares were traded during mid-day trading, a decline of 98% from the previous session’s volume of 1,213,485 shares.The stock last traded at $181.85 and had previously closed at $178.84.

Several research firms recently weighed in on CLX. Argus lowered their target price on The Clorox from $230.00 to $206.00 and set a “buy” rating on the stock in a research report on Friday, May 21st. Barclays reissued a “sell” rating and issued a $162.00 target price on shares of The Clorox in a report on Sunday, April 18th. DA Davidson lowered their price target on shares of The Clorox from $189.00 to $177.00 and set a “neutral” rating on the stock in a report on Monday, May 3rd. Morgan Stanley reduced their price objective on shares of The Clorox from $183.00 to $170.00 and set an “underweight” rating for the company in a research note on Monday, May 3rd. Finally, UBS Group assumed coverage on shares of The Clorox in a research note on Wednesday, June 23rd. They set a “sell” rating and a $166.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $202.33.

The business’s 50 day moving average is $178.55. The stock has a market capitalization of $22.91 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.44 and a beta of 0.21. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.08 and a quick ratio of 0.70.

The Clorox (NYSE:CLX) last posted its earnings results on Thursday, April 29th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.14. The Clorox had a return on equity of 104.74% and a net margin of 12.27%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company earned $1.89 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities analysts expect that The Clorox Company will post 7.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 13th. Stockholders of record on Wednesday, July 28th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.52%. This is a boost from The Clorox’s previous quarterly dividend of $1.11. The ex-dividend date is Tuesday, July 27th. The Clorox’s dividend payout ratio is currently 60.33%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of The Clorox in the 4th quarter valued at approximately $254,283,000. Champlain Investment Partners LLC purchased a new stake in The Clorox during the 1st quarter valued at $200,453,000. Squarepoint Ops LLC lifted its position in The Clorox by 494.5% in the fourth quarter. Squarepoint Ops LLC now owns 270,078 shares of the company’s stock worth $54,534,000 after buying an additional 224,647 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in The Clorox by 24.4% during the first quarter. Nuveen Asset Management LLC now owns 1,017,623 shares of the company’s stock worth $196,280,000 after buying an additional 199,542 shares during the period. Finally, Armistice Capital LLC increased its position in The Clorox by 316.7% during the first quarter. Armistice Capital LLC now owns 250,000 shares of the company’s stock valued at $48,220,000 after acquiring an additional 190,000 shares during the last quarter. 77.62% of the stock is currently owned by institutional investors.

The Clorox Company Profile (NYSE:CLX)

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Scentiva, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; professional cleaning, disinfecting, and food service products under the CloroxPro, Clorox Healthcare, and Clorox Total 360 brands; professional food service products under the Hidden Valley brand; and vitamins, minerals, and supplement products under the RenewLife, Rainbow Light, Natural Vitality, NeoCell, and Stop Aging Now brands.

Further Reading: Basic Economics creates winners and losers

Receive News & Ratings for The Clorox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Clorox and related companies with MarketBeat.com's FREE daily email newsletter.