The Clorox Company to Issue Quarterly Dividend of $1.24 (NYSE:CLX)

Key Points

• The Clorox Company announced a quarterly dividend of $1.24 per share, payable on November 6th to stockholders of record by October 22nd, representing an annualized dividend yield of 4.0%.
• Clorox currently has a dividend payout ratio of 71.6%, indicating its dividend is well-supported by earnings, with an expected future payout ratio of 68.5% based on projected earnings.
• Despite a recent increase in share price to $124.79, analysts have downgraded target prices for Clorox, causing a consensus rating of "Reduce" with an average price target of $142.18.

The Clorox Company (NYSE:CLX - Get Free Report) announced a quarterly dividend on Tuesday, September 16th, RTT News reports. Investors of record on Wednesday, October 22nd will be paid a dividend of 1.24 per share on Thursday, November 6th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, October 22nd.

Clorox has a payout ratio of 71.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Clorox to earn $7.12 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 68.5%.

Clorox Stock Performance

Shares of Clorox stock traded down $2.21 during trading on Friday, reaching $121.91. The company's stock had a trading volume of 5,300,123 shares, compared to its average volume of 1,766,696. The company has a 50-day moving average price of $124.04 and a two-hundred day moving average price of $131.40. The firm has a market cap of $14.91 billion, a PE ratio of 18.70, a P/E/G ratio of 1.00 and a beta of 0.52. Clorox has a fifty-two week low of $116.53 and a fifty-two week high of $171.37. The company has a current ratio of 0.84, a quick ratio of 0.57 and a debt-to-equity ratio of 5.15.

Clorox (NYSE:CLX - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.24 by $0.63. Clorox had a net margin of 11.40% and a return on equity of 377.86%. The business had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company posted $1.82 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. Clorox has set its FY 2026 guidance at 5.950-6.30 EPS. On average, analysts forecast that Clorox will post 7.15 EPS for the current year.

Insider Transactions at Clorox

In related news, COO Eric H. Reynolds sold 15,041 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $123.78, for a total transaction of $1,861,774.98. Following the transaction, the chief operating officer directly owned 54,221 shares in the company, valued at $6,711,475.38. This trade represents a 21.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clorox

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its position in Clorox by 15.6% in the first quarter. Raymond James Financial Inc. now owns 269,926 shares of the company's stock worth $39,747,000 after buying an additional 36,352 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in Clorox in the first quarter worth $247,000. Brown Miller Wealth Management LLC acquired a new stake in Clorox in the first quarter worth $399,000. Roman Butler Fullerton & Co. acquired a new stake in Clorox in the first quarter worth $400,000. Finally, Wedge Capital Management L L P NC increased its position in Clorox by 33.5% in the first quarter. Wedge Capital Management L L P NC now owns 28,510 shares of the company's stock worth $4,198,000 after buying an additional 7,159 shares during the period. 78.53% of the stock is owned by institutional investors and hedge funds.

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.