Citigroup Cuts Clorox (NYSE:CLX) Price Target to $120.00

Clorox (NYSE:CLX) had its target price lowered by Citigroup from $130.00 to $120.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently commented on CLX. Morgan Stanley lowered their price target on Clorox from $137.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Clorox in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Clorox from $135.00 to $128.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. TD Cowen lowered their price objective on shares of Clorox from $120.00 to $117.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company cut their target price on shares of Clorox from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Clorox currently has an average rating of “Reduce” and a consensus target price of $127.60.

Clorox Price Performance

Shares of NYSE:CLX opened at $106.34 on Tuesday. The firm has a 50 day moving average of $119.70 and a 200-day moving average of $125.16. Clorox has a 12 month low of $106.22 and a 12 month 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. The stock has a market capitalization of $12.95 billion, a PE ratio of 16.31, a PEG ratio of 0.92 and a beta of 0.52.

Clorox (NYSE:CLX) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Clorox had a net margin of 11.40% and a return on equity of 377.86%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm posted $1.86 earnings per share. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. Clorox has set its FY 2026 guidance at 5.950-6.300 EPS. On average, equities research analysts predict that Clorox will post 7.15 EPS for the current fiscal year.

Clorox Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Wednesday, October 22nd were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Wednesday, October 22nd. Clorox’s payout ratio is 77.86%.

Insider Buying and Selling at Clorox

In other news, COO Eric H. Reynolds sold 15,041 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $123.78, for a total value of $1,861,774.98. Following the completion of the sale, the chief operating officer owned 54,221 shares of the company’s stock, valued at approximately $6,711,475.38. This represents a 21.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Clorox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC grew its position in Clorox by 157.3% during the second quarter. Simplicity Wealth LLC now owns 18,316 shares of the company’s stock valued at $2,199,000 after buying an additional 11,198 shares during the period. Raymond James Financial Inc. grew its position in shares of Clorox by 15.6% during the 1st quarter. Raymond James Financial Inc. now owns 269,926 shares of the company’s stock valued at $39,747,000 after acquiring an additional 36,352 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in shares of Clorox during the 1st quarter worth approximately $247,000. Bank of New York Mellon Corp raised its holdings in shares of Clorox by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 826,158 shares of the company’s stock worth $121,652,000 after purchasing an additional 10,255 shares during the period. Finally, Liberty One Investment Management LLC raised its holdings in shares of Clorox by 2.9% in the 1st quarter. Liberty One Investment Management LLC now owns 201,741 shares of the company’s stock worth $29,706,000 after purchasing an additional 5,702 shares during the period. Institutional investors and hedge funds own 78.53% of the company’s stock.

About Clorox

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.