New York Life Boosts Stake in Church & Dwight Amid Insider Activity

New York Life Investment Management LLC has increased its position in Church & Dwight Co., Inc. (NYSE: CHD) by 1.4% during the second quarter of 2023. According to filings with the Securities and Exchange Commission (SEC), the fund now holds 36,899 shares after purchasing an additional 516 shares. As of the latest report, these holdings are valued at approximately $3,546,000.

Several other institutional investors have also recently adjusted their positions in Church & Dwight. For instance, Wayfinding Financial LLC acquired a new stake valued at around $40,000 during the first quarter, while Chilton Capital Management LLC increased its ownership by 90.9%, bringing its total to 420 shares worth approximately $46,000. Other notable investments include new stakes from Motco and North Capital Inc., both valued around $46,000 to $47,000. Currently, institutional investors and hedge funds own an impressive 86.60% of Church & Dwight’s stock.

Insider Transactions Highlight Confidence

In related news, CEO Richard A. Dierker purchased 5,470 shares on August 12, 2023, at an average price of $91.57 per share, totaling approximately $500,888. Following this transaction, Dierker’s ownership in the company rose to 27,212 shares, valued at about $2,491,803, marking a significant 25.16% increase in his stake.

Similarly, Executive Vice President Lee B. Mcchesney bought 5,409 shares on August 8, 2023, for approximately $494,274, which also reflects a substantial boost in his position. In total, insiders acquired 12,879 shares valued at around $1,177,702 over the past ninety days, indicating strong internal confidence in the company’s future. Corporate insiders now hold 2.00% of Church & Dwight’s stock.

Financial Performance and Future Outlook

Church & Dwight released its quarterly earnings on August 1, 2023, reporting earnings per share (EPS) of $0.94, exceeding analysts’ consensus estimate of $0.85 by $0.09. The company generated $1.51 billion in revenue, surpassing expectations of $1.48 billion. The firm achieved a return on equity of 19.27% and a net margin of 8.66%, although revenue showed a slight decline of 0.3% compared to the same quarter last year.

Looking ahead, analysts predict that Church & Dwight will post an EPS of $3.70 for the current year, reflecting cautious optimism regarding the company’s performance.

The company also announced a quarterly dividend of $0.295 per share, to be paid on December 1, 2023. Shareholders of record as of November 14, 2023, will receive this dividend, resulting in an annualized dividend of $1.18 and a yield of 1.4%. The dividend payout ratio stands at 55.66%.

Recent commentary from various research firms indicates a range of perspectives on Church & Dwight’s stock. For example, Wells Fargo & Company adjusted its target price from $108.00 to $100.00 while maintaining an “overweight” rating. Conversely, Barclays lowered its target from $84.00 to $83.00 and issued an “underweight” rating.

Currently, seven analysts recommend a “Buy” rating, while seven suggest a “Hold,” and five analysts rate it as a “Sell.” The stock holds a consensus rating of “Hold” with an average target price of $100.00 according to data from MarketBeat.

Church & Dwight Co., Inc. specializes in developing, manufacturing, and marketing household and personal care products. The company operates in various segments, including Consumer Domestic, Consumer International, Specialty Products Division, and Corporate. Its product range includes laundry detergents, household cleaning items, and personal care products such as antiperspirants and dietary supplements.

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