Clorox (NYSE:CLX) Given New $111.00 Price Target at TD Cowen

Clorox (NYSE:CLX) had its target price hoisted by TD Cowen from $98.00 to $111.00 in a research note released on Tuesday morning,MarketScreener reports. The brokerage currently has a hold rating on the stock.

CLX has been the topic of a number of other reports. Royal Bank Of Canada set a $132.00 target price on shares of Clorox in a research note on Wednesday, February 4th. UBS Group raised their price objective on shares of Clorox from $115.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Clorox from $114.00 to $117.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Evercore cut their target price on shares of Clorox from $132.00 to $115.00 and set an “underperform” rating for the company in a research report on Wednesday, February 4th. Finally, Morgan Stanley increased their target price on Clorox from $125.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Clorox currently has an average rating of “Reduce” and an average target price of $118.00.

Clorox Price Performance

NYSE:CLX traded up $0.21 during trading hours on Tuesday, hitting $103.84. 507,433 shares of the company’s stock traded hands, compared to its average volume of 2,220,282. Clorox has a 52 week low of $96.66 and a 52 week high of $150.84. The business’s fifty day simple moving average is $115.37 and its two-hundred day simple moving average is $111.85. The company has a quick ratio of 0.48, a current ratio of 0.74 and a debt-to-equity ratio of 71.03. The firm has a market cap of $12.55 billion, a P/E ratio of 16.96, a P/E/G ratio of 0.50 and a beta of 0.59.

Clorox (NYSE:CLX) last released its quarterly 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). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Clorox had a net margin of 11.17% and a return on equity of 383.01%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. On average, research analysts anticipate that Clorox will post 7.15 earnings per share for the current fiscal year.

Clorox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Wednesday, April 22nd will be paid a $1.24 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.8%. Clorox’s dividend payout ratio is 81.05%.

Hedge Funds Weigh In On Clorox

A number of large investors have recently added to or reduced their stakes in CLX. Center for Financial Planning Inc. purchased a new stake in Clorox during the third quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Clorox in the 3rd quarter valued at about $25,000. Total Investment Management Inc. purchased a new stake in Clorox during the 2nd quarter valued at about $25,000. True Wealth Design LLC boosted its holdings in Clorox by 1,020.0% during the 3rd quarter. True Wealth Design LLC now owns 224 shares of the company’s stock valued at $28,000 after acquiring an additional 204 shares during the period. Finally, Root Financial Partners LLC bought a new position in Clorox during the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors 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.