Clorox (NYSE:CLX) Reaches New 1-Year Low - Here's Why

Key Points

• Shares of The Clorox Company hit a new 52-week low, trading as low as $96.36 and last at $96.71 on volume of about 2.93 million shares.
• Analysts have trimmed price targets and ratings, leaving a MarketBeat consensus of Reduce with an average price target of $111.33 and a breakdown of 1 Buy, 12 Hold, and 4 Sell.
• Clorox recently missed EPS ($1.39 vs. $1.43 est.) as revenue fell 0.8% year‑over‑year to $1.67B, and it pays a quarterly dividend of $1.24 (annualized yield ~5.1%) with a payout ratio around 81%.

Shares of The Clorox Company (NYSE:CLX - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $96.36 and last traded at $96.71, with a volume of 2928879 shares trading hands. The stock had previously closed at $98.68.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings raised Clorox from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, April 13th. Barclays dropped their price target on Clorox from $109.00 to $102.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 14th. Jefferies Financial Group dropped their price target on Clorox from $151.00 to $139.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. The Goldman Sachs Group dropped their price target on Clorox from $110.00 to $94.00 and set a "sell" rating on the stock in a research report on Wednesday, January 7th. Finally, Citigroup dropped their price target on Clorox from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $111.33.

Clorox Trading Down 2.0%

The company's 50 day simple moving average is $109.81 and its two-hundred day simple moving average is $109.17. The company has a debt-to-equity ratio of 71.03, a quick ratio of 0.48 and a current ratio of 0.74. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 0.49 and a beta of 0.65.

Clorox (NYSE:CLX - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.04). Clorox had a return on equity of 383.01% and a net margin of 11.17%.The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. Research analysts expect that The Clorox Company will post 5.87 EPS for the current fiscal year.

Clorox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Wednesday, April 22nd. Clorox's dividend payout ratio is presently 81.05%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLX. Center for Financial Planning Inc. acquired a new position in shares of Clorox during the 3rd quarter worth $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Clorox during the 3rd quarter worth $25,000. Caitlin John LLC increased its stake in shares of Clorox by 1,807.1% during the 4th quarter. Caitlin John LLC now owns 267 shares of the company's stock worth $27,000 after purchasing an additional 253 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Clorox by 1,020.0% during the 3rd quarter. True Wealth Design LLC now owns 224 shares of the company's stock worth $28,000 after purchasing an additional 204 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of Clorox during the 3rd quarter worth $29,000. 78.53% of the stock is owned by institutional investors and hedge funds.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company's flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox's diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.

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