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

The Clorox Company (NYSE:CLX - Get Free Report)'s stock price 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 traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLX. Royal Bank of Canada restated a "sector perform" rating and issued a $150.00 price objective on shares of Clorox in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Clorox from $171.00 to $173.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. StockNews.com cut Clorox from a "buy" rating to a "hold" rating in a research note on Sunday, January 5th. Barclays lifted their price objective on Clorox from $130.00 to $140.00 and gave the company an "underweight" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their price target on shares of Clorox from $157.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Clorox has a consensus rating of "Hold" and an average target price of $158.21.

Clorox Stock Performance

The company has a market cap of $18.21 billion, a PE ratio of 40.18, a PEG ratio of 2.52 and a beta of 0.42. The stock has a 50 day simple moving average of $161.06 and a two-hundred day simple moving average of $159.07. The company has a debt-to-equity ratio of 20.52, a current ratio of 0.94 and a quick ratio of 0.62.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.16. Clorox had a net margin of 6.38% and a return on equity of 316.87%. During the same quarter in the prior year, the company posted $2.16 EPS. Equities analysts predict that The Clorox Company will post 7.15 EPS for the current year.

Clorox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 29th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.32%. The ex-dividend date is Wednesday, January 29th. Clorox's dividend payout ratio is presently 133.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group lifted its holdings in shares of Clorox by 163.8% in the 4th quarter. Brooklyn Investment Group now owns 153 shares of the company's stock valued at $25,000 after buying an additional 95 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Clorox during the 3rd quarter worth approximately $27,000. Continuum Advisory LLC increased its position in Clorox by 300.0% during the 3rd quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $30,000 after purchasing an additional 138 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Clorox during the fourth quarter worth about $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in Clorox in the 4th quarter valued at $36,000. 78.53% of the stock is currently 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.