Clorox (CLX) Declares $1.20 Dividend
Clorox said on February 28, 2024 that its board of directors declared a regular quarterly dividend of $1.20 per share ($4.80 annualized). Previously, the company paid $1.20 per share.
Shares must be purchased before the ex-div date of April 23, 2024 to qualify for the dividend. Shareholders of record as of April 24, 2024 will receive the payment on May 10, 2024.
At the current share price of $153.31 / share, the stock's dividend yield is 3.13%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.78%, the lowest has been 1.90%, and the highest has been 4.12%. The standard deviation of yields is 0.46 (n=233).
The current dividend yield is 0.76 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 7.45. 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.
- Read the Ultimate Guide to Dividend Harvesting.
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 1785 funds or institutions reporting positions in Clorox. This is an increase of 34 owner(s) or 1.94% in the last quarter. Average portfolio weight of all funds dedicated to CLX is 0.18%, an increase of 0.42%. Total shares owned by institutions increased in the last three months by 0.25% to 105,377K shares. 
The put/call ratio of CLX is 0.96, indicating a bullish outlook.
Analyst Price Forecast Suggests 2.65% Upside
As of February 24, 2024, the average one-year price target for Clorox is 157.38. The forecasts range from a low of 130.29 to a high of $178.50. The average price target represents an increase of 2.65% from its latest reported closing price of 153.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Clorox is 7,354MM, an increase of 0.60%. The projected annual non-GAAP EPS is 5.41.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,857K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 3,853K shares, representing an increase of 0.11%. The firm decreased its portfolio allocation in CLX by 14.37% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,975K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 2,943K shares, representing an increase of 1.07%. The firm decreased its portfolio allocation in CLX by 14.71% over the last quarter.
Geode Capital Management holds 2,960K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 2,891K shares, representing an increase of 2.33%. The firm decreased its portfolio allocation in CLX by 2.20% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 2,804K shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 2,865K shares, representing a decrease of 2.19%. The firm decreased its portfolio allocation in CLX by 14.63% over the last quarter.
Stifel Financial holds 2,186K shares representing 1.76% ownership of the company. In it's prior filing, the firm reported owning 2,185K shares, representing an increase of 0.05%. The firm decreased its portfolio allocation in CLX by 76.61% 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.
Additional reading:
- Three months ended Dec. 31, 2023
- Reported Net Sales Growth/ (Decrease)
- The Clorox Company First Amended and Restated Executive Retirement Plan, effective November 14, 2023
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