The Clorox Company (NYSE:CLX – Get Free Report) announced a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Wednesday, October 23rd will be paid a dividend of 1.22 per share on Thursday, November 7th. This represents a $4.88 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, October 23rd.
Clorox has increased its dividend payment by an average of 3.1% per year over the last three years and has increased its dividend annually for the last 47 consecutive years. Clorox has a dividend payout ratio of 73.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Clorox to earn $6.98 per share next year, which means the company should continue to be able to cover its $4.88 annual dividend with an expected future payout ratio of 69.9%.
Clorox Trading Down 0.7 %
Shares of CLX stock opened at $163.47 on Thursday. The company has a market cap of $20.30 billion, a P/E ratio of 84.68, a PEG ratio of 3.29 and a beta of 0.40. Clorox has a fifty-two week low of $114.68 and a fifty-two week high of $169.09. The stock has a 50 day simple moving average of $148.06 and a two-hundred day simple moving average of $143.56. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 1.03.
Insiders Place Their Bets
In related news, EVP Angela C. Hilt sold 1,733 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $165.52, for a total transaction of $286,846.16. Following the completion of the transaction, the executive vice president now owns 13,471 shares in the company, valued at $2,229,719.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.51% of the company’s stock.
Wall Street Analyst Weigh In
CLX has been the subject of several research reports. Citigroup raised their target price on Clorox from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. DA Davidson restated a “neutral” rating and set a $153.00 price objective on shares of Clorox in a report on Friday, September 6th. Wells Fargo & Company lowered their target price on Clorox from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price target on shares of Clorox from $150.00 to $148.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Clorox from $144.00 to $151.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Clorox presently has an average rating of “Hold” and an average target price of $143.50.
Get Our Latest Research Report on Clorox
About Clorox
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.
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