Traders Sell Shares of Clorox Co. (CLX) on Strength (CLX)
Investors sold shares of Clorox Co. (NYSE:CLX) on strength during trading hours on Tuesday. $25.29 million flowed into the stock on the tick-up and $39.00 million flowed out of the stock on the tick-down, for a money net flow of $13.71 million out of the stock. Of all companies tracked, Clorox had the 0th highest net out-flow for the day. Clorox traded up $0.77 for the day and closed at $123.44
Several research analysts recently weighed in on CLX shares. Atlantic Securities upgraded shares of Clorox from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research report on Friday, September 16th. Citigroup Inc. upped their price target on shares of Clorox from $134.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $130.00 price target on shares of Clorox in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Clorox from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research report on Monday, August 8th. Finally, Deutsche Bank AG restated a “hold” rating and set a $134.00 price target (up previously from $130.00) on shares of Clorox in a research report on Sunday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $128.90.
The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 25.09 and a beta of 0.33. The firm’s 50 day moving average is $129.50 and its 200-day moving average is $130.10.
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Clorox (NYSE:CLX) last announced its earnings results on Wednesday, August 3rd. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Clorox had a return on equity of 296.91% and a net margin of 11.25%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. Equities analysts forecast that Clorox Co. will post $5.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Wednesday, October 26th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Monday, October 24th. Clorox’s payout ratio is currently 64.91%.
In other Clorox news, COO Dawn C. Willoughby sold 10,617 shares of Clorox stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $131.01, for a total transaction of $1,390,933.17. Following the completion of the transaction, the chief operating officer now owns 20,353 shares in the company, valued at $2,666,446.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura Stein sold 38,882 shares of Clorox stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $131.69, for a total transaction of $5,120,370.58. Following the transaction, the executive vice president now owns 48,501 shares of the company’s stock, valued at approximately $6,387,096.69. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CLX. Norges Bank acquired a new position in shares of Clorox during the fourth quarter worth about $98,583,000. Bank of Montreal Can purchased a new position in Clorox during the second quarter worth $53,902,000. BlackRock Institutional Trust Company N.A. raised its position in Clorox by 8.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,890,145 shares of the company’s stock worth $676,747,000 after buying an additional 385,723 shares in the last quarter. Prudential Financial Inc. raised its position in Clorox by 209.8% in the first quarter. Prudential Financial Inc. now owns 540,279 shares of the company’s stock worth $68,107,000 after buying an additional 365,910 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Clorox during the second quarter worth $45,921,000. Institutional investors own 70.26% of the company’s stock.
The Clorox Company is a manufacturer and marketer of consumer and professional products. The Company sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Company operates through four segments: Cleaning, Household, Lifestyle and International.
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