The Clorox Company (NYSE:CLX – Get Free Report) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Wednesday, October 23rd will be given a dividend of 1.22 per share on Thursday, November 7th. This represents a $4.88 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, October 23rd.
Clorox has increased its dividend by an average of 3.1% annually over the last three years and has increased its dividend every year for the last 47 years. Clorox has a payout ratio of 73.6% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 0.8 %
Shares of CLX opened at $163.43 on Thursday. The firm 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 12 month low of $114.68 and a 12 month high of $169.09. The stock’s 50 day moving average is $148.06 and its two-hundred day moving average is $143.56. The company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04.
Analyst Upgrades and Downgrades
Several brokerages recently commented on CLX. Citigroup boosted their price target on Clorox from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company dropped their price target on Clorox from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. TD Cowen started coverage on Clorox in a research report on Tuesday, July 23rd. They set a “sell” rating and a $122.00 price objective on the stock. Argus raised shares of Clorox to a “hold” rating in a report on Tuesday, June 4th. Finally, BNP Paribas raised shares of Clorox to a “strong sell” rating in a research note on Friday, September 6th. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Clorox has an average rating of “Hold” and a consensus target price of $143.50.
Insider Activity at Clorox
In related news, EVP Angela C. Hilt sold 1,733 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was 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 directly owns 13,471 shares in the company, valued at approximately $2,229,719.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.
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.
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