BNP Paribas Upgrades Clorox (NYSE:CLX) to “Strong Sell”

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

A number of other research firms also recently weighed in on CLX. JPMorgan Chase & Co. reduced their target price on shares of Clorox from $150.00 to $148.00 and set a neutral rating for the company in a research report on Friday, August 2nd. DA Davidson reissued a neutral rating and issued a $153.00 target price on shares of Clorox in a research report on Friday. TD Cowen began coverage on Clorox in a research report on Tuesday, July 23rd. They set a sell rating and a $122.00 price target on the stock. Argus raised Clorox to a hold rating in a report on Tuesday, June 4th. Finally, Barclays upped their price objective on shares of Clorox from $122.00 to $130.00 and gave the company an underweight rating in a report on Monday, August 5th. Six investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $143.50.

Clorox Stock Performance

Shares of CLX opened at $165.20 on Friday. The stock has a 50 day moving average of $143.55 and a 200 day moving average of $142.87. The company has a current ratio of 1.03, a quick ratio of 0.63 and a debt-to-equity ratio of 5.04. Clorox has a 12 month low of $114.68 and a 12 month high of $166.49. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 85.60, a PEG ratio of 3.34 and a beta of 0.40.

Clorox (NYSE:CLX) last released its earnings results on Thursday, August 1st. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.28. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Clorox had a return on equity of 281.12% and a net margin of 3.95%. As a group, sell-side analysts forecast that Clorox will post 6.56 earnings per share for the current year.

Clorox Increases Dividend

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

Hedge Funds Weigh In On Clorox

A number of large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its stake in Clorox by 0.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 13,900 shares of the company’s stock worth $1,982,000 after purchasing an additional 66 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Clorox by 6.2% in the first quarter. Lindbrook Capital LLC now owns 1,182 shares of the company’s stock worth $181,000 after purchasing an additional 69 shares during the last quarter. Fiduciary Group LLC increased its stake in shares of Clorox by 0.4% in the second quarter. Fiduciary Group LLC now owns 19,050 shares of the company’s stock worth $2,600,000 after buying an additional 72 shares during the period. GHP Investment Advisors Inc. raised its holdings in Clorox by 2.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 3,634 shares of the company’s stock valued at $496,000 after buying an additional 72 shares during the last quarter. Finally, SPC Financial Inc. boosted its position in Clorox by 2.2% during the 2nd quarter. SPC Financial Inc. now owns 3,485 shares of the company’s stock valued at $476,000 after buying an additional 75 shares during the period. 78.53% of the stock is owned by hedge funds and other institutional investors.

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.