The Clorox Company (CLX) rose by 0.88% to close at $132.22 per share during the first week of August 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 0.88%, -3.3%, and 6.2%, respectively, as of August 5.
CLX is trading 1.3% below its 20-day moving average, 0.50% below its 50-day moving average, and 4.1% above its 200-day moving average.
Related ETF and peers
The SPDR S&P Dividend ETF (SDY) invests 1.1% of its holdings in Clorox. The ETF tracks a yield-weighted index of 50 dividend-paying companies from the S&P 1500 Composite Index that have increased their dividends for at least 20 consecutive years. The YTD price movement of SDY was 17.7% on August 5.
The market caps of Clorox’s competitors are as follows:
Performance of Clorox in fiscals 4Q16 and 2016
Clorox reported fiscal 4Q16 net sales of $1.60 billion, a rise of 2.8% compared to net sales of $1.56 billion in fiscal 4Q15. Sales of its Cleaning, Household, and Lifestyle segments rose by 6.0%, 5.0%, and 3.7%, respectively, and sales of its International segment fell by 8.6% in fiscal 4Q16 compared to fiscal 4Q15. The company’s gross profit margin fell by 0.36% in fiscal 4Q16, compared to the prior year’s period.
Its net income and EPS (earnings per share) fell to $165.0 million and $1.26, respectively, in fiscal 4Q16, compared to $191.0 million and $1.46, respectively, in fiscal 4Q15.
Fiscal 2016 results
In fiscal 2016, CLX reported net sales of $5.8 billion, a rise of 1.8% YoY (year-over-year). The company’s gross profit margin rose by 2.2% in fiscal 2016.
Its net income and EPS rose to $648.0 million and $4.92, respectively, in fiscal 2016, compared to $580.0 million and $4.37, respectively, in fiscal 2015. It reported non-GAAP (generally accepted accounting principles) EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.2 billion in fiscal 2016, a rise of 3.8% YoY.
Clorox’s cash and cash equivalents and inventories rose by 5.0% and 15.1%, respectively, in fiscal 2016. Its current ratio fell to 0.95x in fiscal 2016 compared to 1.0x in fiscal 2015. It reported non-GAAP free cash flow of $596.0 million in fiscal 2016, a fall of 18.7% YoY.
The company has made the following projections for fiscal 2017:
- sales growth in the range of 2%–4%, or 4%–6% after excluding the 2% impact of unfavorable foreign currency exchange rates
- EPS in the range of $5.38–$5.58, including the benefit of about $0.25–$0.30 from its adoption of Accounting Standards Update 2016-09
- EBIT (earnings before interest and tax) margin expansion in the range of 0.25%–0.50%
- effective tax rate in the range of 30%–31%
Clorox’s key appointments
Benno Dorer, Clorox’s CEO, has been appointed as the chair of the company’s board of directors. Pamela Thomas-Graham has been appointed as the independent lead director of the board. Allan D. David Mackay has been appointed to the Clorox board of directors.
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