Royal Bank Of Canada Cuts Clorox (NYSE:CLX) Price Target to $127.00

Clorox (NYSE:CLX) had its price objective reduced by Royal Bank Of Canada from $132.00 to $127.00 in a report issued on Thursday morning, Marketbeat reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

CLX has been the subject of several other research reports. Jefferies Financial Group lowered their target price on shares of Clorox from $152.00 to $151.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. BNP Paribas Exane upgraded Clorox from an “underperform” rating to a “neutral” rating in a research report on Wednesday, February 11th. Wells Fargo & Company dropped their price target on Clorox from $125.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Morgan Stanley increased their price target on Clorox from $125.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Clorox from $112.00 to $101.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and four 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 $115.93.

Clorox Stock Down 2.3%

NYSE:CLX opened at $105.16 on Thursday. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.52 and a beta of 0.65. Clorox has a one year low of $96.66 and a one year high of $143.96. The stock has a 50-day simple moving average of $114.15 and a 200 day simple moving average of $110.88. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74.

Clorox (NYSE:CLX) last released its earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.04). Clorox had a net margin of 11.17% and a return on equity of 383.01%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts predict that Clorox will post 7.15 EPS for the current fiscal year.

Clorox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, April 22nd. Clorox’s payout ratio is 81.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Clorox by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,380 shares of the company’s stock valued at $1,970,000 after buying an additional 514 shares in the last quarter. Woodline Partners LP grew its position in Clorox by 253.7% during the first quarter. Woodline Partners LP now owns 10,407 shares of the company’s stock valued at $1,532,000 after purchasing an additional 7,465 shares in the last quarter. Baird Financial Group Inc. grew its position in Clorox by 1.7% during the second quarter. Baird Financial Group Inc. now owns 25,032 shares of the company’s stock valued at $3,006,000 after purchasing an additional 424 shares in the last quarter. Jump Financial LLC increased its position in Clorox by 173.5% in the 2nd quarter. Jump Financial LLC now owns 12,491 shares of the company’s stock worth $1,500,000 after purchasing an additional 7,924 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in Clorox by 26.2% in the 2nd quarter. Bank of Nova Scotia now owns 16,141 shares of the company’s stock worth $1,938,000 after purchasing an additional 3,352 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.

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.