June 28, 2023 – HB Wealth Management LLC, a prominent institutional investor, has significantly increased its position in Church & Dwight Co., Inc. (NYSE:CHD) during the first quarter of this year, according to the company’s recently filed Form 13F with the Securities and Exchange Commission. As per the filing, the wealth management firm acquired an additional 1,256 shares of Church & Dwight stock during the period, resulting in a notable 43.1% increase in its overall holdings. As of the most recent filing with the SEC, HB Wealth Management LLC’s stake in Church & Dwight is now valued at $368,000.
Several prominent brokerages have also issued reports on CHD lately. Morgan Stanley raised their price objective for Church & Dwight shares from $92.00 to $100.00 and assigned the stock an “overweight” rating in a report published on April 17th of this year. On April 28th, 1-800-FLOWERS.COM reissued a “maintains” rating on Church & Dwight shares. Deutsche Bank Aktiengesellschaft also increased their target price for CHD from $96.00 to $105.00 on that same day. Additionally, Royal Bank of Canada raised their price target for Church & Dwight stocks from $83.00 to $91.00 as well.
It is worth noting that Bloomberg.com indicates that consensus among analysts currently rates Church & Dwight as a “Hold”, with an average target price of $91.56.
Church & Dwight stocks opened at $98.78 on Wednesday. The company boasts a debt-to-equity ratio of 0.65 and exhibits healthy liquidity ratios such as a quick ratio of 0.60 and current ratio of precisely 1.18.
Moreover, the firm carries both a fifty-day moving average ($94) and a two-hundred-day moving average ($87.75). In the last year, Church & Dwight shares have traded in a range between $70.16 and $98.81 – representing a 52-week low and high, respectively.
The market cap of Church & Dwight stands at an impressive $24.13 billion with a price-to-earnings ratio of 59.15 and a P/E/G ratio of 3.97. Additionally, the stock has a beta value of 0.47.
These recent developments, including the increased stake by HB Wealth Management LLC and positive ratings from various brokerages, indicate a favorable outlook for Church & Dwight Co., Inc. Investors can anticipate potential growth in the company’s stock as it continues to generate strong performance and attract institutional support.
As always, prudent investors are encouraged to conduct thorough research and consult with financial professionals before making any investment decisions based on this or any other news or analysis available in the media.
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Church & Dwight Sees Increased Activity from Institutional Investors and Insider Selling Amid Positive Financial Performance
Church & Dwight, the consumer goods company known for brands such as Arm & Hammer and Trojan, has been seeing increased activity from institutional investors recently. Spinnaker Trust, one of these investors, raised its stake in Church & Dwight by 1.0% during the first quarter by purchasing an additional 500 shares, now owning a total of 48,916 shares worth $4.3 million.
National Bank of Canada FI also raised its position in Church & Dwight during the same period, increasing its holdings by 42.1%. They now own 29,327 shares valued at $2.6 million after acquiring an additional 8,684 shares.
Exchange Traded Concepts LLC and Koshinski Asset Management Inc. have also added to their stakes in Church & Dwight during the first quarter. Exchange Traded Concepts LLC increased their holdings by 6.7%, now owning 7,816 shares worth $691,000 after acquiring an additional 494 shares. Koshinski Asset Management Inc.’s stake grew by 13.7%, totaling 11,063 shares worth $978,000 after purchasing an additional 1,331 shares.
Additionally, Elk River Wealth Management LLC raised their holdings by 1.9% during the first quarter with the acquisition of an extra 720 shares, resulting in a total of 38,635 shares amounting to $3.4 million.
These institutional investors and hedge funds now collectively own around 82.61% of Church & Dwight’s stock.
In terms of insider trading news for Church & Dwight Co., Inc., there have been recent transactions involving top executives selling off some of their shares.
EVP Rene Hemsey sold a total of 7,460 shares on Tuesday, May 9th at an average price of $96.56 per share for a total value of $720,337.60. Following this transaction, Hemsey holds around 6,316 shares valued at $609,872.96.
EVP Barry A. Bruno also made a significant sale on Tuesday, May 2nd, selling 6,440 shares at an average price of $96.27 per share for a total value of $619,978.80. Bruno now has 4,302 shares of the company’s stock valued at $414,153.54.
In total, insiders have sold approximately 305,843 shares of Church & Dwight’s stock with a total value of $29.6 million in the last quarter alone.
There have been various ratings issued by brokerages on Church & Dwight recently. Morgan Stanley raised their price objective from $92.00 to $100.00 and gave the stock an “overweight” rating in April. Deutsche Bank Aktiengesellschaft also upped their target price to $105.00 from $96.00 in a research report during the same month.
While three analysts rated the stock as a sell and ten assigned it as a hold, six have designated it as a buy option based on Bloomberg.com’s analysis.
Regarding financial performance, Church & Dwight reported its quarterly earnings results on Thursday, April 27th. The company exceeded analysts’ expectations with earnings per share (EPS) of $0.85 compared to the consensus estimate of $0.76 per share – a difference of $0.09.
They also had a net margin of 7.49% along with a return on equity (ROE) of 20.49%. The firm reported revenue of $1.43 billion for the quarter compared to analysts’ expectations of $1.35 billion – showing an increase in sales by 10%.
For the current fiscal year, equities research analysts predict that Church & Dwight Co., Inc.’s earnings per share will be around 3.11.
Lastly, Church & Dwight announced a quarterly dividend on Thursday, June 1st. Stockholders of record on Monday, May 15th received a $0.2725 dividend per share. This translates to an annualized dividend of $1.09 and a dividend yield of 1.10%. Currently, Church & Dwight Co., Inc.’s dividend payout ratio stands at 65.27%.
With recent activity from institutional investors, insider selling, and positive financial performance, Church & Dwight continues to be closely monitored by analysts and investors alike as it navigates the consumer goods market.
References:
https://www.reuters.com/article/us-ny-quarterly-reporting-idUSKBN2C011Y
https://www.streetinsider.com/rating_history.php?q=church+%26+dwight
https://seekingalpha.com/news/3655160-church-and-dwight-reports-beat-on-q1-earnings-upside-in-guidance-bofa-securities