Clorox (NYSE:CLX) Shares Gap Down - Here's What Happened

Shares of The Clorox Company (NYSE:CLX - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $159.78, but opened at $154.00. Clorox shares last traded at $151.17, with a volume of 883,907 shares.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CLX. DA Davidson decreased their price target on Clorox from $171.00 to $169.00 and set a "neutral" rating on the stock in a report on Wednesday. Barclays raised their target price on shares of Clorox from $130.00 to $140.00 and gave the company an "underweight" rating in a research note on Wednesday. Evercore ISI boosted their price target on shares of Clorox from $145.00 to $155.00 in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Clorox from $157.00 to $161.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on Clorox from $171.00 to $173.00 and gave the stock a "neutral" rating in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $158.21.

Clorox Trading Down 1.5 %

The business's 50-day moving average is $162.25 and its two-hundred day moving average is $158.76. The company has a debt-to-equity ratio of 11.08, a current ratio of 1.00 and a quick ratio of 0.62. The firm has a market cap of $18.07 billion, a P/E ratio of 50.86, a P/E/G ratio of 2.92 and a beta of 0.42.

Clorox (NYSE:CLX - Get Free Report) last released its earnings results on Monday, February 3rd. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.16. Clorox had a return on equity of 316.08% and a net margin of 4.78%. During the same period in the prior year, the company earned $2.16 EPS. As a group, analysts predict that The Clorox Company will post 6.86 earnings per share for the current fiscal year.

Clorox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 29th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, January 29th. Clorox's payout ratio is presently 170.04%.

Institutional Trading of Clorox

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLX. Czech National Bank lifted its stake in Clorox by 6.6% in the 3rd quarter. Czech National Bank now owns 25,232 shares of the company's stock valued at $4,111,000 after purchasing an additional 1,567 shares during the last quarter. GAMMA Investing LLC raised its stake in Clorox by 63.0% in the third quarter. GAMMA Investing LLC now owns 1,795 shares of the company's stock valued at $292,000 after buying an additional 694 shares during the period. New England Research & Management Inc. acquired a new stake in shares of Clorox in the third quarter valued at approximately $216,000. Affinity Capital Advisors LLC bought a new position in shares of Clorox during the 3rd quarter worth approximately $224,000. Finally, Axiom Advisory LLC increased its holdings in shares of Clorox by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 11,328 shares of the company's stock worth $1,679,000 after acquiring an additional 177 shares during the last quarter. 78.53% of the stock is owned by institutional investors.

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.