Church & Dwight (NYSE:CHD) Shares Gap Up Following Strong Earnings

Church & Dwight Co., Inc. (NYSE:CHD)’s share price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $99.91, but opened at $105.75. Church & Dwight shares last traded at $105.75, with a volume of 507,571 shares changing hands.

The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.11. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Church & Dwight had a return on equity of 19.86% and a net margin of 13.38%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share.

Church & Dwight Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.2838 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, November 15th. Church & Dwight’s payout ratio is 34.77%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CHD shares. Piper Sandler assumed coverage on shares of Church & Dwight in a report on Tuesday, September 24th. They set an “overweight” rating and a $120.00 price objective on the stock. Truist Financial decreased their price objective on shares of Church & Dwight from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus dropped their target price on Church & Dwight from $107.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, August 5th. TD Cowen assumed coverage on shares of Church & Dwight in a research report on Tuesday, July 23rd. They set a “buy” rating and a $116.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on Church & Dwight from $116.00 to $108.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Church & Dwight currently has an average rating of “Hold” and an average price target of $107.50.

Insider Activity

In other Church & Dwight news, EVP Barry A. Bruno sold 59,328 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $99.37, for a total transaction of $5,895,423.36. Following the completion of the transaction, the executive vice president now owns 4,319 shares of the company’s stock, valued at $429,179.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd lifted its position in shares of Church & Dwight by 62.0% during the third quarter. Covestor Ltd now owns 682 shares of the company’s stock worth $71,000 after purchasing an additional 261 shares in the last quarter. Sustainable Insight Capital Management LLC lifted its holdings in Church & Dwight by 324.1% during the 3rd quarter. Sustainable Insight Capital Management LLC now owns 12,300 shares of the company’s stock worth $1,288,000 after buying an additional 9,400 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Church & Dwight in the 3rd quarter valued at approximately $241,000. Leavell Investment Management Inc. grew its stake in shares of Church & Dwight by 23.6% in the third quarter. Leavell Investment Management Inc. now owns 11,800 shares of the company’s stock worth $1,236,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Church & Dwight during the third quarter worth $27,000. 86.60% of the stock is currently owned by hedge funds and other institutional investors.

Church & Dwight Stock Performance

The firm has a market capitalization of $25.64 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 3.69 and a beta of 0.55. The firm has a 50 day moving average price of $102.89 and a 200-day moving average price of $104.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 0.98.

Church & Dwight Company Profile

Church & Dwight Co, Inc develops, manufactures, and markets household, personal care, and specialty products. It operates in three segments: Consumer Domestic, Consumer International, and Specialty Products Division. The company offers cat litters, carpet deodorizers, laundry detergents, and baking soda, as well as other baking soda based products under the ARM & HAMMER brand; condoms, lubricants, and vibrators under the TROJAN brand; stain removers, cleaning solutions, laundry detergents, and bleach alternatives under the OXICLEAN brand; toothbrushes under the SPINBRUSH brand; home pregnancy and ovulation test kits under the FIRST RESPONSE brand; depilatories under the NAIR brand; oral analgesics under the ORAJEL brand; laundry detergents under the XTRA brand; gummy dietary supplements under the L'IL CRITTERS and VITAFUSION brands; dry shampoos under the BATISTE brand; water flossers and showerheads under the WATERPIK brand; cold shortening and relief products under the ZICAM brand; oral care products under the THERABREATH brand; and acne treatment products under the HERO brand.