The Clorox Company (NYSE:CLX) Sees Large Decline in Short Interest

The Clorox Company (NYSE:CLX - Get Free Report) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,540,000 shares, a drop of 18.1% from the February 28th total of 4,320,000 shares. Currently, 2.9% of the company's stock are short sold. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is presently 2.5 days.

Clorox Stock Performance

Shares of CLX stock traded down $4.93 during trading hours on Friday, hitting $143.76. The stock had a trading volume of 2,292,858 shares, compared to its average volume of 1,283,012. The company has a debt-to-equity ratio of 20.52, a current ratio of 0.94 and a quick ratio of 0.60. The firm has a market capitalization of $17.71 billion, a PE ratio of 39.28, a PEG ratio of 2.62 and a beta of 0.45. Clorox has a twelve month low of $127.60 and a twelve month high of $171.37. The stock's 50 day moving average is $150.06 and its 200 day moving average is $158.44.

Clorox (NYSE:CLX - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.16. Clorox had a return on equity of 316.87% and a net margin of 6.38%. During the same quarter last year, the company earned $2.16 EPS. As a group, research analysts forecast that Clorox will post 7.15 earnings per share for the current fiscal year.

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Clorox Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 23rd will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.88 annualized dividend and a yield of 3.39%. Clorox's dividend payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. DA Davidson reduced their target price on shares of Clorox from $171.00 to $169.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price objective on shares of Clorox from $161.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Barclays decreased their price objective on shares of Clorox from $140.00 to $139.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their price target on Clorox from $171.00 to $173.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $150.00 price objective on shares of Clorox in a research report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $159.00.

Institutional Investors Weigh In On Clorox

Institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its holdings in shares of Clorox by 1.3% in the 4th quarter. California Public Employees Retirement System now owns 565,810 shares of the company's stock valued at $91,893,000 after buying an additional 6,987 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Clorox by 26.3% in the third quarter. Public Employees Retirement System of Ohio now owns 59,766 shares of the company's stock valued at $9,736,000 after acquiring an additional 12,428 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Clorox during the 4th quarter worth $204,000. Apollon Wealth Management LLC grew its stake in shares of Clorox by 119.6% during the 4th quarter. Apollon Wealth Management LLC now owns 3,364 shares of the company's stock worth $546,000 after purchasing an additional 1,832 shares during the period. Finally, Miracle Mile Advisors LLC purchased a new position in shares of Clorox in the 4th quarter valued at about $1,566,000. Hedge funds and other institutional investors own 78.53% of the company's stock.

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.