Clorox (NYSE:CLX) Upgraded to Strong Sell at BNP Paribas

BNP Paribas upgraded shares of Clorox (NYSE:CLX) to a strong sell rating in a research note released on Friday morning, Zacks.com reports.

Several other brokerages also recently issued reports on CLX. JPMorgan Chase & Co. lowered their price target on shares of Clorox from $150.00 to $148.00 and set a neutral rating for the company in a report on Friday, August 2nd. DA Davidson reissued a neutral rating and issued a $153.00 price objective on shares of Clorox in a research note on Friday. Wells Fargo & Company reduced their price objective on shares of Clorox from $135.00 to $130.00 and set an underweight rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Clorox from $144.00 to $151.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Finally, Argus raised shares of Clorox to a hold rating in a research note on Tuesday, June 4th. Six equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $143.50.

Clorox Stock Up 0.3 %

Shares of NYSE:CLX opened at $165.20 on Friday. The company has a fifty day moving average of $143.55 and a 200-day moving average of $142.87. The company has a market capitalization of $20.46 billion, a PE ratio of 85.60, a price-to-earnings-growth ratio of 3.34 and a beta of 0.40. The company has a debt-to-equity ratio of 5.04, a quick ratio of 0.63 and a current ratio of 1.03. Clorox has a 52-week low of $114.68 and a 52-week high of $166.49.

Clorox (NYSE:CLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.28. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.97 billion. Clorox had a net margin of 3.95% and a return on equity of 281.12%. On average, equities analysts predict that Clorox will post 6.56 EPS for the current fiscal year.

Clorox Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.22 per share. The ex-dividend date was Tuesday, August 13th. This represents a $4.88 annualized dividend and a dividend yield of 2.95%. This is a positive change from Clorox’s previous quarterly dividend of $1.20. Clorox’s dividend payout ratio is currently 252.85%.

Hedge Funds Weigh In On Clorox

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in shares of Clorox by 1,525.7% during the first quarter. SG Americas Securities LLC now owns 65,612 shares of the company’s stock valued at $10,046,000 after purchasing an additional 61,576 shares during the period. Mizuho Markets Americas LLC raised its holdings in shares of Clorox by 93.7% during the first quarter. Mizuho Markets Americas LLC now owns 72,053 shares of the company’s stock valued at $11,032,000 after purchasing an additional 34,864 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Clorox by 15.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 141,622 shares of the company’s stock valued at $21,705,000 after purchasing an additional 18,687 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Clorox by 257.5% in the 1st quarter. Advisors Asset Management Inc. now owns 11,228 shares of the company’s stock worth $1,719,000 after acquiring an additional 8,087 shares during the last quarter. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of Clorox in the 1st quarter worth about $1,025,000. Institutional investors and hedge funds 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.