Clorox Target of Unusually Large Options Trading (NYSE:CLX)

The Clorox Company (NYSE:CLX) was the target of some unusual options trading activity on Thursday. Stock investors acquired 15,500 put options on the stock. This is an increase of approximately 120% compared to the average volume of 7,035 put options.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CLX shares. Evercore set a $99.00 price objective on shares of Clorox in a research note on Tuesday, August 4th. UBS Group lifted their target price on shares of Clorox from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Clorox in a report on Friday, July 10th. The Goldman Sachs Group reiterated a “sell” rating and issued a $83.00 price target on shares of Clorox in a research note on Friday, May 1st. Finally, Zacks Research cut Clorox from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Twelve research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Clorox presently has an average rating of “Reduce” and a consensus price target of $102.40.

Clorox Price Performance

Shares of Clorox stock traded down $0.69 on Friday, hitting $105.85. 1,936,185 shares of the company traded hands, compared to its average volume of 2,665,874. Clorox has a 52 week low of $84.70 and a 52 week high of $128.90. The business has a 50-day simple moving average of $98.08 and a 200 day simple moving average of $103.31. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The stock has a market capitalization of $12.80 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 3.17 and a beta of 0.54.

Clorox (NYSE:CLX) last issued its earnings results on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. Clorox had a net margin of 8.74% and a return on equity of 522.23%. Clorox’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. Research analysts expect that Clorox will post 5.82 earnings per share for the current fiscal year.

Clorox Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Wednesday, August 12th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.7%. This is a positive change from Clorox’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Wednesday, August 12th. Clorox’s payout ratio is presently 103.73%.

Hedge Funds Weigh In On Clorox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wallace Capital Management Inc. bought a new stake in Clorox in the 2nd quarter worth approximately $784,000. Freestone Grove Partners LP purchased a new position in shares of Clorox in the second quarter valued at $30,463,000. Man Group plc bought a new stake in Clorox in the second quarter worth $2,014,000. Invst LLC bought a new stake in Clorox in the second quarter worth $355,000. Finally, Jupiter Topco LLC purchased a new stake in Clorox during the second quarter valued at $1,201,000. 78.53% of the stock is owned by institutional investors.

About Clorox

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.