The Clorox Company (CLX) To Go Ex-Dividend on April 23rd

The Clorox Company (NYSE:CLX) announced a quarterly dividend on Wednesday, February 28th, RTT News reports. Investors of record on Wednesday, April 24th will be paid a dividend of 1.20 per share on Friday, May 10th. This represents a $4.80 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Tuesday, April 23rd.

Clorox has raised its dividend payment by an average of 3.1% annually over the last three years and has increased its dividend annually for the last 46 consecutive years. Clorox has a dividend payout ratio of 75.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Clorox to earn $6.33 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 75.8%.

Clorox Stock Performance

Shares of CLX stock opened at $143.55 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 11.37. The stock has a 50 day simple moving average of $149.99 and a 200-day simple moving average of $141.87. The company has a market cap of $17.82 billion, a price-to-earnings ratio of 227.86, a price-to-earnings-growth ratio of 2.27 and a beta of 0.43. Clorox has a 12-month low of $114.68 and a 12-month high of $178.21.

Clorox (NYSE:CLX) last released its earnings results on Thursday, February 1st. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $1.08. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.80 billion. Clorox had a return on equity of 319.41% and a net margin of 1.09%. Clorox’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. On average, equities analysts forecast that Clorox will post 5.52 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CLX shares. Citigroup reduced their price target on shares of Clorox from $165.00 to $155.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upped their target price on Clorox from $145.00 to $152.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. The Goldman Sachs Group assumed coverage on Clorox in a research note on Friday, March 1st. They set a “sell” rating and a $140.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Clorox from $155.00 to $151.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Barclays cut their target price on shares of Clorox from $148.00 to $136.00 and set an “underweight” rating for the company in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $148.63.

Hedge Funds Weigh In On Clorox

Several institutional investors have recently added to or reduced their stakes in CLX. Tyler Stone Wealth Management purchased a new stake in Clorox in the 2nd quarter valued at about $25,000. O Dell Group LLC purchased a new stake in Clorox in the fourth quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Clorox during the first quarter worth approximately $31,000. First Capital Advisors Group LLC. purchased a new position in Clorox during the second quarter worth approximately $35,000. Finally, Compass Wealth Management LLC acquired a new position in shares of Clorox in the 4th quarter valued at $39,000. 78.53% of the stock is currently 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.