Tag Archives: CLX

Analysts Set The Clorox Company (CLX) PT at $129.53

The Clorox Company (NYSE:CLX) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $129.53.

A number of brokerages recently weighed in on CLX. Barclays reiterated a “hold” rating and set a $135.00 price target on shares of The Clorox in a research note on Friday, March 16th. Bank of America decreased their price target on shares of The Clorox from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Thursday, May 3rd. BMO Capital Markets set a $147.00 price target on shares of The Clorox and gave the stock a “buy” rating in a research note on Monday, February 5th. Wells Fargo decreased their price target on shares of The Clorox from $140.00 to $130.00 and set a “market perform” rating for the company in a research note on Thursday, April 19th. Finally, Zacks Investment Research downgraded shares of The Clorox from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

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Shares of NYSE:CLX opened at $118.38 on Monday. The firm has a market cap of $15.20 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.37. The company has a quick ratio of 0.93, a current ratio of 1.18 and a debt-to-equity ratio of 2.14. The Clorox has a 1-year low of $117.44 and a 1-year high of $118.56.

The Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, May 2nd. The company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.06. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. The Clorox had a net margin of 13.27% and a return on equity of 107.93%. The Clorox’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. research analysts expect that The Clorox will post 5.73 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Jensen Investment Management Inc. increased its holdings in shares of The Clorox by 12.1% in the 4th quarter. Jensen Investment Management Inc. now owns 40,960 shares of the company’s stock valued at $6,092,000 after purchasing an additional 4,435 shares in the last quarter. Spearhead Capital Advisors LLC purchased a new position in shares of The Clorox in the 4th quarter valued at about $2,846,000. Advisor Group Inc. increased its holdings in shares of The Clorox by 26.8% in the 4th quarter. Advisor Group Inc. now owns 48,896 shares of the company’s stock valued at $7,276,000 after purchasing an additional 10,335 shares in the last quarter. Northeast Investment Management increased its holdings in shares of The Clorox by 1.0% in the 4th quarter. Northeast Investment Management now owns 103,054 shares of the company’s stock valued at $15,328,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of The Clorox by 10.7% in the 4th quarter. Victory Capital Management Inc. now owns 25,475 shares of the company’s stock valued at $3,789,000 after purchasing an additional 2,465 shares in the last quarter. Institutional investors own 76.39% of the company’s stock.

The Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighters and color boosters; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.

Analyst Recommendations for The Clorox (NYSE:CLX)

Analysts Set The Clorox Company (CLX) PT at $129.53

The Clorox Company (NYSE:CLX) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $129.53.

A number of brokerages recently weighed in on CLX. Barclays reiterated a “hold” rating and set a $135.00 price target on shares of The Clorox in a research note on Friday, March 16th. Bank of America decreased their price target on shares of The Clorox from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Thursday, May 3rd. BMO Capital Markets set a $147.00 price target on shares of The Clorox and gave the stock a “buy” rating in a research note on Monday, February 5th. Wells Fargo decreased their price target on shares of The Clorox from $140.00 to $130.00 and set a “market perform” rating for the company in a research note on Thursday, April 19th. Finally, Zacks Investment Research downgraded shares of The Clorox from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

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Shares of NYSE:CLX opened at $118.38 on Monday. The firm has a market cap of $15.20 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.37. The company has a quick ratio of 0.93, a current ratio of 1.18 and a debt-to-equity ratio of 2.14. The Clorox has a 1-year low of $117.44 and a 1-year high of $118.56.

The Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, May 2nd. The company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.06. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. The Clorox had a net margin of 13.27% and a return on equity of 107.93%. The Clorox’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. research analysts expect that The Clorox will post 5.73 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Jensen Investment Management Inc. increased its holdings in shares of The Clorox by 12.1% in the 4th quarter. Jensen Investment Management Inc. now owns 40,960 shares of the company’s stock valued at $6,092,000 after purchasing an additional 4,435 shares in the last quarter. Spearhead Capital Advisors LLC purchased a new position in shares of The Clorox in the 4th quarter valued at about $2,846,000. Advisor Group Inc. increased its holdings in shares of The Clorox by 26.8% in the 4th quarter. Advisor Group Inc. now owns 48,896 shares of the company’s stock valued at $7,276,000 after purchasing an additional 10,335 shares in the last quarter. Northeast Investment Management increased its holdings in shares of The Clorox by 1.0% in the 4th quarter. Northeast Investment Management now owns 103,054 shares of the company’s stock valued at $15,328,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of The Clorox by 10.7% in the 4th quarter. Victory Capital Management Inc. now owns 25,475 shares of the company’s stock valued at $3,789,000 after purchasing an additional 2,465 shares in the last quarter. Institutional investors own 76.39% of the company’s stock.

The Clorox Company Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighters and color boosters; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands.

Analyst Recommendations for The Clorox (NYSE:CLX)

Kellogg Discontinues Operations In Crisis-Hit Venezuela; 'Absolutely Unconstitutional,' Sa

Kellogg Company (NYSE: K) has closed its operations in Venezuela in the face of tumultuous economic conditions. Poor access to raw materials due to economic barriers, supply chain disruptions and the limited access to dollars to import goods due to currency controls have disrupted operations of the company's Venezuelan subsidiary.

The Venezuelan division produced 75% of the breakfast cereals for the country, per the company's website and employed around 400 workers. Post the news of discontinuation of operations in Venezuela, Kellogg's manufacturing plant has been captured by the leftist government, under the leadership of President Nicolas Maduro. 

Importantly, Kellogg deconsolidated and changed to the cost method of accounting for the Venezuelan subsidiary in December 2016.

What Exactly Is Happening In Venezuela?

The oil-rich country of Venezuela is now reeling under hyperinflation and strict price controls. The country is divided between the followers of the United Socialist Party (PSUV), earlier led by Hugo Chávez and currently fronted by Nicolas Maduro, and those who want an end to the more than 15-years of rule of the party.

Venezuela, having one of the largest oil reserves in the world, heavily depended on revenues from oil imports for sustenance. During the presidency of Hugo Chavez in early 2000s, oil prices were booming. The leader used this money to fund various social programs and was successful in addressing illiteracy, healthcare and poverty issues. Also, the price of key items, food and medicines were fixed at a rate below the cost of production to make it affordable. Chavez also restricted the conversion of national currency into dollars and fixed the rate.

When oil prices began to fall the economy went haywire. The government failed to support the projects, paralyzing the country with poverty and inflation. Moreover, the government also stopped companies from raising prices to keep up with hyperinflation.

Venezuelan President Reacts

The enraged president Maduro decided to hand the company over to the workers so that they can continue production. He believes that Kellogg's exit is unconstitutional and has begun judicial proceedings against management.

In retaliation, Kellogg said that the company is not responsible for the unauthorized use of the commercial names as well as brands and will exercise legal actions if needed.

Importantly, Kellogg is not the first company to exit the country. Other companies include Clorox (NYSE: CLX), Kimberly-Clark (NYSE: KMB), General Mills (NYSE: GIS) and General Motors (NYSE: GM). Though Kellogg stated that it looks forward to resume operations once conditions improve, we believe that chances are dim considering the dismal economic situation.

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