Citigroup Cuts Clorox (NYSE:CLX) Price Target to $163.00

Clorox (NYSE:CLX) had its price target cut by Citigroup from $167.00 to $163.00 in a research note issued to investors on Thursday morning, AnalystRatings.com reports. They currently have a neutral rating on the stock.

CLX has been the topic of several other reports. Zacks Investment Research upgraded shares of Clorox from a sell rating to a hold rating and set a $175.00 target price on the stock in a research report on Monday, July 29th. ValuEngine lowered shares of Clorox from a buy rating to a hold rating in a research report on Thursday, August 1st. Morgan Stanley restated an underweight rating and set a $134.00 target price (down from $144.00) on shares of Clorox in a research report on Monday. Barclays lowered shares of Clorox from an equal weight rating to an underweight rating and decreased their target price for the stock from $142.00 to $141.00 in a research report on Monday, September 23rd. Finally, Bank of America decreased their target price on shares of Clorox from $165.00 to $160.00 and set a neutral rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $152.25.

Shares of NYSE CLX traded up $4.36 during trading on Thursday, hitting $151.38. 1,224,349 shares of the company were exchanged, compared to its average volume of 1,024,022. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 5.04 and a beta of 0.40. Clorox has a 1 year low of $141.53 and a 1 year high of $167.70. The firm’s fifty day moving average price is $156.52 and its 200 day moving average price is $155.59. The company has a debt-to-equity ratio of 4.09, a current ratio of 0.91 and a quick ratio of 0.55.

Clorox (NYSE:CLX) last issued its earnings results on Thursday, August 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.69 billion. Clorox had a net margin of 13.20% and a return on equity of 118.88%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS. On average, research analysts forecast that Clorox will post 6.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 30th will be given a $1.06 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $4.24 annualized dividend and a dividend yield of 2.80%. Clorox’s dividend payout ratio is presently 67.09%.

In related news, SVP Michael R. Costello sold 6,997 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $162.56, for a total value of $1,137,432.32. Following the sale, the senior vice president now directly owns 29,016 shares in the company, valued at approximately $4,716,840.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Diego J. Barral sold 1,987 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $157.59, for a total transaction of $313,131.33. The disclosure for this sale can be found here. Insiders sold a total of 15,609 shares of company stock worth $2,497,443 over the last quarter. Insiders own 1.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CLX. LVM Capital Management Ltd. MI raised its stake in Clorox by 6.4% in the 3rd quarter. LVM Capital Management Ltd. MI now owns 3,317 shares of the company’s stock valued at $504,000 after purchasing an additional 200 shares during the last quarter. First Hawaiian Bank raised its stake in Clorox by 49.7% in the 3rd quarter. First Hawaiian Bank now owns 6,513 shares of the company’s stock valued at $989,000 after purchasing an additional 2,161 shares during the last quarter. Bridger Capital Management LLC acquired a new position in Clorox in the 2nd quarter valued at about $1,839,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Clorox by 4.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 36,492 shares of the company’s stock valued at $5,587,000 after purchasing an additional 1,531 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Clorox in the 2nd quarter valued at about $321,000. Institutional investors and hedge funds own 78.21% of the company’s stock.

About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, 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, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

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