Fintel reports that on October 5, 2023, JP Morgan maintained coverage of Clorox (NYSE:CLX) with a Underweight recommendation.
Analyst Price Forecast Suggests 17.74% Upside
As of October 5, 2023, the average one-year price target for Clorox is 155.22. The forecasts range from a low of 128.27 to a high of $194.25. The average price target represents an increase of 17.74% from its latest reported closing price of 131.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Clorox is 7,354MM, a decrease of 0.47%. The projected annual non-GAAP EPS is 5.41.
Clorox Declares $1.20 Dividend
On July 27, 2023 the company declared a regular quarterly dividend of $1.20 per share ($4.80 annualized). Shareholders of record as of August 9, 2023 received the payment on August 25, 2023. Previously, the company paid $1.18 per share.
At the current share price of $131.83 / share, the stock's dividend yield is 3.64%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.70%, the lowest has been 1.90%, and the highest has been 3.75%. The standard deviation of yields is 0.41 (n=235).
The current dividend yield is 2.27 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 3.99. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1800 funds or institutions reporting positions in Clorox. This is a decrease of 8 owner(s) or 0.44% in the last quarter. Average portfolio weight of all funds dedicated to CLX is 0.20%, a decrease of 4.44%. Total shares owned by institutions decreased in the last three months by 2.45% to 103,995K shares. 
The put/call ratio of CLX is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,853K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 3,821K shares, representing an increase of 0.82%. The firm decreased its portfolio allocation in CLX by 6.50% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,943K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 2,882K shares, representing an increase of 2.08%. The firm decreased its portfolio allocation in CLX by 7.04% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 2,865K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 2,885K shares, representing a decrease of 0.69%. The firm decreased its portfolio allocation in CLX by 4.18% over the last quarter.
Geode Capital Management holds 2,818K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 2,725K shares, representing an increase of 3.30%. The firm decreased its portfolio allocation in CLX by 5.97% over the last quarter.
Stifel Financial holds 2,137K shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 2,584K shares, representing a decrease of 20.91%. The firm increased its portfolio allocation in CLX by 227.30% over the last quarter.
Clorox Background Information
(This description is provided by the company.)
The Clorox Company (NYSE: CLX) is a leading multinational manufacturer and marketer of consumer and professional products with about 8,800 employees worldwide and fiscal year 2020 sales of $6.7 billion. Clorox markets some of the most trusted and recognized consumer brand names, including its namesake bleach and cleaning products; Pine-Sol® cleaners; Liquid-Plumr® clog removers; Poett® home care products; Fresh Step® cat litter; Glad® bags and wraps; Kingsford® charcoal; Hidden Valley® dressings and sauces; Brita® water-filtration products; Burt's Bees® natural personal care products; and RenewLife®, Rainbow Light®, Natural Vitality Calm™, NeoCell® and Stop Aging Now® vitamins, minerals and supplements. The company also markets industry-leading products and technologies for professional customers, including those sold under the CloroxPro™ and Clorox Healthcare® brand names. More than 80% of the company's sales are generated from brands that hold the No. 1 or No. 2 market share positions in their categories.
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