Clorox (NYSE:CLX) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Clorox (NYSE:CLX) had its target price trimmed by JPMorgan Chase & Co. from $95.00 to $83.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

CLX has been the topic of several other research reports. Barclays reduced their price target on shares of Clorox from $84.00 to $80.00 and set an “underweight” rating on the stock in a research note on Friday, October 16th. TD Cowen lowered their price objective on shares of Clorox from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, October 13th. Citigroup lowered their price objective on shares of Clorox from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Morgan Stanley dropped their target price on shares of Clorox from $97.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 15th. Finally, Wells Fargo & Company reduced their target price on shares of Clorox from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Clorox currently has a consensus rating of “Reduce” and a consensus price target of $93.57.

Clorox Stock Performance

Shares of Clorox stock opened at $84.72 on Monday. The stock’s fifty day moving average is $90.99 and its two-hundred day moving average is $94.88. The company has a market capitalization of $10.25 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.77 and a beta of 0.59. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 15.80. Clorox has a 52 week low of $79.12 and a 52 week high of $128.90.

Clorox (NYSE:CLX) last released 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. Clorox had a return on equity of 522.23% and a net margin of 8.74%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $2.87 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, analysts expect that Clorox will post 5.72 earnings per share for the current year.

Clorox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Wednesday, October 28th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a $5.00 dividend on an annualized basis and a yield of 5.9%. Clorox’s dividend payout ratio is 103.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLX. Kestra Private Wealth Services LLC lifted its position in shares of Clorox by 1.8% in the 1st quarter. Kestra Private Wealth Services LLC now owns 5,957 shares of the company’s stock worth $617,000 after purchasing an additional 104 shares during the period. Geneos Wealth Management Inc. increased its holdings in Clorox by 9.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,402 shares of the company’s stock valued at $145,000 after buying an additional 119 shares during the period. Elevation Wealth Partners LLC increased its holdings in Clorox by 32.3% during the third quarter. Elevation Wealth Partners LLC now owns 565 shares of the company’s stock valued at $46,000 after buying an additional 138 shares during the period. Root Financial Partners LLC increased its holdings in Clorox by 83.8% during the first quarter. Root Financial Partners LLC now owns 318 shares of the company’s stock valued at $33,000 after buying an additional 145 shares during the period. Finally, Webster Bank N. A. raised its stake in Clorox by 61.2% in the first quarter. Webster Bank N. A. now owns 395 shares of the company’s stock worth $41,000 after buying an additional 150 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors.

Clorox Company Profile

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt’s Bees personal care items.