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

The Clorox Company (NYSE:CLX) announced a quarterly dividend on Tuesday, September 17th, Zacks reports. Shareholders of record on Wednesday, October 23rd will be paid a dividend of 1.22 per share on Thursday, November 7th. This represents a $4.88 annualized dividend and a yield of 3.01%. The ex-dividend date is Wednesday, October 23rd.

Clorox has increased its dividend payment by an average of 3.1% annually over the last three years and has raised its dividend every year for the last 47 years. Clorox has a dividend payout ratio of 73.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Clorox to earn $7.03 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 69.4%.

Clorox Trading Down 0.4 %

Shares of NYSE CLX opened at $161.96 on Monday. The business has a fifty day moving average price of $159.28 and a 200 day moving average price of $145.14. Clorox has a 1-year low of $114.68 and a 1-year high of $169.09. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.03 and a quick ratio of 0.63. The stock has a market capitalization of $20.11 billion, a P/E ratio of 83.92, a price-to-earnings-growth ratio of 3.19 and a beta of 0.41.

Clorox (NYSE:CLX) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.54 by $0.28. Clorox had a net margin of 3.95% and a return on equity of 281.12%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.97 billion. Equities research analysts expect that Clorox will post 6.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLX. Citigroup upped their price target on Clorox from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. DA Davidson reiterated a “neutral” rating and issued a $153.00 price target on shares of Clorox in a research note on Friday, September 6th. TD Cowen initiated coverage on Clorox in a research note on Tuesday, July 23rd. They set a “sell” rating and a $122.00 price target on the stock. Evercore ISI lowered their target price on shares of Clorox from $140.00 to $139.00 and set an “underperform” rating for the company in a research note on Monday, October 14th. Finally, Jefferies Financial Group upgraded shares of Clorox from a “hold” rating to a “buy” rating and upped their price target for the company from $174.00 to $187.00 in a research note on Tuesday, October 1st. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $150.14.

Insiders Place Their Bets

In other news, EVP Angela C. Hilt sold 1,733 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $165.52, for a total value of $286,846.16. Following the sale, the executive vice president now owns 13,471 shares in the company, valued at $2,229,719.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by insiders.

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.