Clorox (NYSE:CLX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company raised Clorox's price target from $135.00 to $138.00, indicating a potential upside of 10.78% from its current price.
• Clorox shares recently traded down 0.8% to $124.57, with analysts giving the stock a consensus rating of "Hold" and an average price target of $145.08.
• The company reported quarterly earnings of $2.87 per share, exceeding the analysts' estimate of $2.24, and showed a revenue increase of 4.5% year-over-year.

Clorox (NYSE:CLX - Free Report) had its target price hoisted by Wells Fargo & Company from $135.00 to $138.00 in a research report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

CLX has been the topic of several other research reports. Evercore ISI set a $140.00 price target on Clorox and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Morgan Stanley reduced their price objective on Clorox from $165.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. UBS Group dropped their price objective on Clorox from $150.00 to $134.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Jefferies Financial Group lowered their price objective on Clorox from $167.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, Barclays cut their price target on Clorox from $129.00 to $119.00 and set an "underweight" rating for the company in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Clorox has an average rating of "Hold" and an average price target of $143.36.

Clorox Stock Performance

Clorox stock traded up $1.15 during midday trading on Friday, reaching $125.34. The stock had a trading volume of 1,327,474 shares, compared to its average volume of 1,636,667. The company has a quick ratio of 0.57, a current ratio of 0.84 and a debt-to-equity ratio of 5.15. The firm has a market capitalization of $15.45 billion, a PE ratio of 19.22, a P/E/G ratio of 3.64 and a beta of 0.49. Clorox has a 12 month low of $117.35 and a 12 month high of $171.37. The firm's 50-day moving average price is $125.94 and its 200 day moving average price is $138.61.

Clorox (NYSE:CLX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.24 by $0.63. Clorox had a return on equity of 377.86% and a net margin of 11.40%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the firm posted $1.82 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that Clorox will post 7.15 earnings per share for the current fiscal year.

Clorox Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This is an increase from Clorox's previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.0%. Clorox's payout ratio is 74.85%.

Insider Transactions at Clorox

In related news, Director Pierre R. Breber bought 4,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $136.57 per share, with a total value of $546,280.00. Following the completion of the purchase, the director directly owned 4,000 shares of the company's stock, valued at $546,280. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.57% of the company's stock.

Institutional Trading of Clorox

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Clorox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 15,573,076 shares of the company's stock worth $2,293,135,000 after purchasing an additional 65,924 shares during the period. Geode Capital Management LLC lifted its position in shares of Clorox by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,098,302 shares of the company's stock worth $501,925,000 after purchasing an additional 69,969 shares during the last quarter. Stifel Financial Corp grew its stake in Clorox by 0.4% in the fourth quarter. Stifel Financial Corp now owns 2,344,408 shares of the company's stock valued at $380,761,000 after purchasing an additional 9,582 shares during the last quarter. Northern Trust Corp grew its stake in shares of Clorox by 2.3% during the first quarter. Northern Trust Corp now owns 1,528,920 shares of the company's stock worth $225,133,000 after acquiring an additional 34,655 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Clorox by 28.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,421,909 shares of the company's stock valued at $230,932,000 after buying an additional 316,688 shares during the last quarter. Institutional investors own 78.53% 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.