Insider Buying: Clorox (NYSE:CLX) Director Purchases $400,240.00 in Stock

Key Points

• Clorox director Pierre Breber bought 4,000 shares for $400,240 at an average price of $100.06, increasing his position by 22.22% to 22,000 shares.
• Clorox reported quarterly EPS of $1.55, beating the $1.07 estimate, while revenue rose 33.3% year over year to $1.91 billion.
• The company declared a quarterly dividend of $1.25 per share, equivalent to an annualized yield of about 5%; analysts’ average rating was “Reduce,” with a $93.79 average price target.

The Clorox Company (NYSE:CLX - Get Free Report) Director Pierre Breber purchased 4,000 shares of Clorox stock in a transaction dated Wednesday, November 4th. The stock was acquired at an average price of $100.06 per share, for a total transaction of $400,240.00. Following the completion of the acquisition, the director owned 22,000 shares of the company's stock, valued at approximately $2,201,320. This trade represents a 22.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Clorox Trading Up 0.5%

Shares of CLX stock traded up $0.48 on Thursday, reaching $99.64. 2,477,362 shares of the company's stock were exchanged, compared to its average volume of 2,665,551. The company's fifty day simple moving average is $87.88 and its 200 day simple moving average is $99.77. The Clorox Company has a 52 week low of $79.12 and a 52 week high of $128.90. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 32.91. The stock has a market capitalization of $12.05 billion, a PE ratio of 17.92, a P/E/G ratio of 3.09 and a beta of 0.59.

Clorox (NYSE:CLX - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.07 by $0.48. Clorox had a return on equity of 608.30% and a net margin of 9.41%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $0.85 EPS. Clorox's quarterly revenue was up 33.3% on a year-over-year basis. As a group, analysts forecast that The Clorox Company will post 5.75 EPS for the current year.

Clorox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Wednesday, October 28th will be issued a $1.25 dividend. The ex-dividend date is Wednesday, October 28th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.0%. Clorox's dividend payout ratio is presently 89.93%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Clorox in the 2nd quarter valued at about $958,640,000. Beutel Goodman & Co Ltd. purchased a new position in Clorox during the third quarter worth approximately $163,038,000. Bank of America Corp DE purchased a new position in Clorox during the second quarter worth approximately $179,780,000. Bank of New York Mellon Corp acquired a new stake in Clorox in the second quarter valued at approximately $123,154,000. Finally, Equity Investment Corp acquired a new stake in Clorox in the second quarter valued at approximately $111,800,000. Hedge funds and other institutional investors own 78.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CLX. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $95.00 price target on shares of Clorox in a research note on Monday, October 19th. Barclays lowered their price objective on shares of Clorox from $84.00 to $80.00 and set an "underweight" rating for the company in a research report on Friday, October 16th. Morgan Stanley lifted their price target on shares of Clorox from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Wednesday. Wall Street Zen lowered Clorox from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd. Finally, BNP Paribas Exane lowered their price target on Clorox from $97.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $93.79.

About Clorox

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt's Bees personal care items.

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