Clorox (NYSE:CLX) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Clorox (NYSE:CLX) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company dropped their target price on Clorox from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. TD Cowen dropped their price objective on Clorox from $120.00 to $117.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. dropped their price objective on Clorox from $135.00 to $127.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Bank of America dropped their price objective on Clorox from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Finally, BNP Paribas Exane dropped their price objective on Clorox from $118.00 to $110.00 and set an “underperform” rating on the stock in a report on Friday, October 17th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, Clorox presently has a consensus rating of “Reduce” and a consensus price target of $130.20.

Clorox Stock Up 1.6%

CLX stock opened at $112.48 on Tuesday. The company’s 50 day moving average price is $120.64 and its 200 day moving average price is $126.19. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.84. Clorox has a fifty-two week low of $110.61 and a fifty-two week high of $171.37. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.92 and a beta of 0.52.

Clorox (NYSE:CLX) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.63. Clorox had a net margin of 11.40% and a return on equity of 377.86%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $1.82 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Clorox will post 7.15 EPS for the current fiscal year.

Clorox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Wednesday, October 22nd will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, October 22nd. Clorox’s dividend payout ratio (DPR) is currently 76.07%.

Insider Transactions at Clorox

In related news, COO Eric H. Reynolds sold 15,041 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $123.78, for a total transaction of $1,861,774.98. Following the transaction, the chief operating officer owned 54,221 shares in the company, valued at $6,711,475.38. This trade represents a 21.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clorox

A number of hedge funds have recently modified their holdings of the business. Total Investment Management Inc. purchased a new position in Clorox during the 2nd quarter worth $25,000. American National Bank & Trust grew its holdings in shares of Clorox by 69.5% during the second quarter. American National Bank & Trust now owns 217 shares of the company’s stock worth $26,000 after buying an additional 89 shares during the last quarter. NewSquare Capital LLC grew its holdings in shares of Clorox by 567.6% during the second quarter. NewSquare Capital LLC now owns 227 shares of the company’s stock worth $27,000 after buying an additional 193 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Clorox by 1,020.0% during the third quarter. True Wealth Design LLC now owns 224 shares of the company’s stock worth $28,000 after buying an additional 204 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new position in shares of Clorox during the third quarter worth about $29,000. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

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.