BlackRock Fund Advisors recently announced the acquisition of new stake in The Clorox Company (NYSE:CLX). The institutional investor has increased its shareholding in the Consumer Defensive company by 2.68% to 8.05 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 6.43% valued currently at $1.77 billion. In addition, Geode Capital Management LLC raised its holdings by 0.13 million to 2.42 million shares. And Renaissance Technologies LLC has lifted its position by 72.64% or 0.62 million shares – to 1.48 million shares.
With over 0.91 million The Clorox Company (CLX) shares trading Wednesday and a closing price of $231.00 on the day, the dollar volume was approximately $209.68 million. The shares have shown a positive weekly performance of 0.80% and its price on 07/28/20 gained nearly 1.07%. Currently, there are 125.66M common shares owned by the public and among those 125.57M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for CLX have a consensus price objective of $206.54. The analysts have set the share’s price value over the next 12 months at a high of $256.00 and a low of $164.00 should the stock experience a downside. Incidentally, analysts’ outlook for the The Clorox Company stock is 2.90 for the next 12 months. The average price target is -15.45% below its last price level and a downside to the estimated low will see the stock lose -40.85% over that period. But an upside of 9.77% will see the stock hit the forecast high price target while mean target price for the stock is $196.00.
Insiders at the company have transacted a total of 97 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 488,857 shares. Insider sales of the common stock occurred on 54 occasions, with total insider shares sold totaling 429,995 shares.
The top 3 mutual fund holders in The Clorox Company are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 3.59 million shares of the company’s stock, all valued at over $787.39 million. The company sold 30453.0 shares recently to bring their total holdings to about 2.87% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.16 million shares to see its total holdings shrink to 3.11 million shares valued at over $683.33 million and representing 2.49% of the shares outstanding. Vanguard 500 Index Fund bought 32128.0 shares to bring its total holdings to over 2.6 million shares at a value of $569.31 million. Vanguard 500 Index Fund now owns shares totaling to 2.08% of the shares outstanding.
Shares of The Clorox Company (NYSE: CLX) opened at $228.98, up $0.43 from a prior closing price of $228.55. However, the script later closed the day at $231.00, up 1.07%. The company’s stock has a 5-day price change of 0.80% and 22.26% over the past three months. CLX shares are trading 48.85% year to date (YTD), with the 12-month market performance up to 38.21% higher. It has a 12-month low price of $144.12 and touched a high of $232.21 over the same period. Currently, 0.91 million shares have been traded, compared to an average intraday trading volume of 1.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.12%, 7.66%, and 30.15% respectively.
Institutional ownership of The Clorox Company (NYSE: CLX) shares accounts for 82.60% of the company’s 125.66M shares outstanding. Mutual fund holders own 43.47%, while other institutional holders and individual stakeholders account for 50.14% and 38.93% respectively.
It has a market capitalization of $28.88B and a beta (3y monthly) value of 0.25. The stock’s trailing 12-month PE ratio is 33.52, while the earnings-per-share (ttm) stands at $6.82. The company has a PEG of 6.07 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 4.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.52% over the week and 1.75% over the month.
Analysts forecast that The Clorox Company (CLX) will achieve an EPS of $1.98 for the current quarter, $1.8 for the next quarter and $7.31 for 2021. The lowest estimate earnings-per-share for the quarter is $1.84 while analysts give the company a high EPS estimate of $2.08. Comparatively, EPS for the current quarter was $1.88 a year ago. Earnings per share for the fiscal year are expected to increase by 12.00%, and 5.29% over the next financial year. EPS should shrink at an annualized rate of 5.52% over the next five years, compared to 7.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate The Clorox Company (CLX) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 7 of the 15 advise that investors “hold,” and 4 rated it as a “Sell.”
Looking at the support for the CLX, a number of firms have released research notes about the stock. DA Davidson stated their Buy rating for the stock in a research note on June 30, 2020, with the firm’s price target at $256. Credit Suisse coverage for the The Clorox Company (CLX) stock in a research note released on March 19, 2020 offered a Neutral rating with a price target of $172. JP Morgan was of a view on March 16, 2020 that the stock is Overweight, while Argus gave the stock Buy rating on March 09, 2020, issuing a price target of $195. BofA/Merrill on their part issued Neutral rating on October 03, 2019.