Clorox (NYSE:CLX) Reaches New 12-Month High – Here’s Why

The Clorox Company (NYSE:CLX)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $171.37 and last traded at $169.95, with a volume of 97704 shares changing hands. The stock had previously closed at $169.74.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CLX shares. TD Cowen raised Clorox from a “sell” rating to a “hold” rating and lifted their price target for the stock from $155.00 to $170.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on shares of Clorox from $148.00 to $174.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Citigroup upped their price objective on shares of Clorox from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group upgraded Clorox from a “hold” rating to a “buy” rating and boosted their target price for the stock from $174.00 to $187.00 in a report on Tuesday, October 1st. Finally, BNP Paribas raised Clorox to a “strong sell” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Clorox presently has a consensus rating of “Hold” and an average target price of $155.00.

Clorox Trading Down 1.6 %

The company has a market cap of $20.67 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 3.10 and a beta of 0.42. The company’s 50 day simple moving average is $163.50 and its two-hundred day simple moving average is $150.49. The company has a debt-to-equity ratio of 11.08, a current ratio of 1.00 and a quick ratio of 0.62.

Clorox (NYSE:CLX) last announced its earnings results on Wednesday, October 30th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.50. Clorox had a return on equity of 316.08% and a net margin of 4.78%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Clorox Company will post 6.85 EPS for the current fiscal year.

Clorox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 29th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 2.92%. The ex-dividend date is Wednesday, January 29th. Clorox’s payout ratio is currently 170.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CLX. Prospera Private Wealth LLC acquired a new stake in shares of Clorox in the 3rd quarter valued at $27,000. Innealta Capital LLC purchased a new position in shares of Clorox in the 2nd quarter valued at about $30,000. Trifecta Capital Advisors LLC raised its position in shares of Clorox by 139.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 223 shares of the company’s stock worth $30,000 after acquiring an additional 130 shares in the last quarter. Continuum Advisory LLC lifted its stake in Clorox by 300.0% during the third quarter. Continuum Advisory LLC now owns 184 shares of the company’s stock worth $30,000 after purchasing an additional 138 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in Clorox in the second quarter valued at approximately $31,000. 78.53% of the stock is owned by institutional investors and hedge funds.

Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.