New York State Teachers Retirement System Reduces Stock Position in Church & Dwight Co., Inc. (NYSE:CHD)

Posted by Defense World Staff on Apr 12th, 2023

New York State Teachers Retirement System lowered its stake in Church & Dwight Co., Inc. (NYSE:CHD – Get Rating) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,659 shares of the company’s stock after selling 12,568 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Church & Dwight worth $22,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHD. Vanguard Group Inc. raised its position in Church & Dwight by 1.1% in the third quarter. Vanguard Group Inc. now owns 29,027,417 shares of the company’s stock worth $2,073,719,000 after acquiring an additional 317,813 shares during the period. State Street Corp raised its position in Church & Dwight by 0.7% in the third quarter. State Street Corp now owns 12,211,925 shares of the company’s stock worth $872,420,000 after acquiring an additional 84,323 shares during the period. Massachusetts Financial Services Co. MA raised its position in Church & Dwight by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,645,087 shares of the company’s stock worth $474,725,000 after acquiring an additional 231,649 shares during the period. Allspring Global Investments Holdings LLC raised its position in Church & Dwight by 18.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,206,411 shares of the company’s stock worth $419,689,000 after acquiring an additional 805,508 shares during the period. Finally, Legal & General Group Plc raised its position in Church & Dwight by 13.0% in the second quarter. Legal & General Group Plc now owns 2,601,181 shares of the company’s stock worth $241,028,000 after acquiring an additional 300,049 shares during the period. Hedge funds and other institutional investors own 80.86% of the company’s stock.

Insider Activity

In other news, EVP Paul Richard Wood sold 48,262 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $83.37, for a total value of $4,023,602.94. Following the completion of the transaction, the executive vice president now owns 120 shares of the company’s stock, valued at $10,004.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Penry W. Price sold 17,544 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $83.90, for a total value of $1,471,941.60. Following the sale, the director now owns 24,311 shares of the company’s stock, valued at $2,039,692.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul Richard Wood sold 48,262 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $83.37, for a total transaction of $4,023,602.94. Following the sale, the executive vice president now directly owns 120 shares in the company, valued at approximately $10,004.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,350 shares of company stock valued at $6,969,241. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Church & Dwight from $91.00 to $92.00 in a research report on Monday, March 20th. TheStreet downgraded shares of Church & Dwight from a “b” rating to a “c” rating in a research report on Friday, February 3rd. Royal Bank of Canada decreased their price objective on shares of Church & Dwight from $85.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 31st. UBS Group raised their price objective on shares of Church & Dwight from $88.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, April 6th. Finally, Atlantic Securities upgraded shares of Church & Dwight from an “underweight” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Monday, February 6th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Church & Dwight has an average rating of “Hold” and an average target price of $87.56.

Church & Dwight Trading Up 0.1 %

Shares of CHD opened at $90.59 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.63 and a debt-to-equity ratio of 0.74. Church & Dwight Co., Inc. has a 12-month low of $70.16 and a 12-month high of $105.28. The firm has a 50-day moving average price of $84.96 and a 200 day moving average price of $80.37. The firm has a market capitalization of $22.11 billion, a P/E ratio of 53.92, a P/E/G ratio of 3.86 and a beta of 0.46.

Church & Dwight (NYSE:CHD – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.40 billion. Church & Dwight had a net margin of 7.70% and a return on equity of 20.70%. Church & Dwight’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that Church & Dwight Co., Inc. will post 3.07 EPS for the current year.

Church & Dwight Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th were paid a $0.2725 dividend. This is a positive change from Church & Dwight’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, February 14th. This represents a $1.09 annualized dividend and a dividend yield of 1.20%. Church & Dwight’s dividend payout ratio (DPR) is presently 64.88%.

About Church & Dwight

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Church & Dwight Co, Inc engages in the development, manufacture, and marketing of household, personal care, and specialty products. It operates through the following segments: Consumer Domestic, Consumer International, Specialty Products, and Corporate. The Consumer Domestic segment offers household products, such as laundry detergents, fabric softener sheets, cat litter, and household cleaning products, and personal care products including antiperspirants, oral care products, depilatories, reproductive health products, oral analgesics, nasal saline moisturizers, and dietary supplements.