Clorox Co (NYSE:CLX) announced a quarterly dividend on Thursday, May 21st, Wall Street Journal reports. Stockholders of record on Wednesday, July 29th will be paid a dividend of 1.11 per share on Friday, August 14th. This represents a $4.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Tuesday, July 28th. This is a positive change from Clorox’s previous quarterly dividend of $1.06.
Clorox has raised its dividend by an average of 8.9% annually over the last three years and has raised its dividend every year for the last 42 years. Clorox has a dividend payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Clorox to earn $7.16 per share next year, which means the company should continue to be able to cover its $4.24 annual dividend with an expected future payout ratio of 59.2%.
Shares of CLX opened at $198.59 on Friday. Clorox has a 12 month low of $144.12 and a 12 month high of $214.26. The stock has a fifty day moving average price of $193.16 and a 200-day moving average price of $167.10. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 3.69. The firm has a market cap of $25.11 billion, a PE ratio of 29.24, a P/E/G ratio of 5.01 and a beta of 0.24.
Clorox (NYSE:CLX) last issued its quarterly earnings data on Friday, May 1st. The company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. Clorox had a return on equity of 147.52% and a net margin of 13.67%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business posted $1.44 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts forecast that Clorox will post 6.89 EPS for the current year.
CLX has been the subject of several analyst reports. Royal Bank of Canada reiterated a “hold” rating and set a $195.00 price objective on shares of Clorox in a report on Tuesday, April 14th. Barclays restated a “sell” rating and issued a $164.00 target price on shares of Clorox in a research note on Tuesday, May 5th. UBS Group raised their target price on Clorox from $155.00 to $168.00 and gave the stock a “sell” rating in a research note on Monday, May 4th. Credit Suisse Group raised their target price on Clorox from $172.00 to $180.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Deutsche Bank raised their target price on Clorox from $147.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $173.23.
In other Clorox news, SVP Denise Garner sold 870 shares of Clorox stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $170.00, for a total transaction of $147,900.00. Following the completion of the transaction, the senior vice president now owns 50,489 shares in the company, valued at approximately $8,583,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Benno O. Dorer sold 252,794 shares of Clorox stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $169.01, for a total value of $42,724,713.94. Following the transaction, the chief executive officer now owns 306,908 shares of the company’s stock, valued at approximately $51,870,521.08. The disclosure for this sale can be found here. Insiders have sold a total of 300,843 shares of company stock valued at $52,556,301 in the last quarter. Company insiders own 1.14% of the company’s stock.
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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