Joseph James Longo, Vice President, Controller, and Chief Accounting Officer at Church & Dwight Co. Inc. (NYSE:CHD), recently executed a series of transactions involving the company's stock. According to a filing with the Securities and Exchange Commission, Longo sold 7,780 shares of common stock on November 22, 2024. The shares were sold at a weighted average price of approximately $112.44 per share, amounting to a total transaction value of $874,789.
Prior to the sale, Longo exercised stock options to acquire the same number of shares at a price of $73.87 per share. Following these transactions, Longo no longer holds these shares directly. The filing also indicates that Longo retains ownership of 382 shares directly, 400 shares indirectly, and an additional 109.7595 shares through a profit-sharing or savings plan trust.
In other recent news, Church & Dwight Co. Inc. reported a strong third quarter, with sales increasing by 3.8%, surpassing the expected growth of 2.5%. Adjusted earnings per share (EPS) for the quarter were $0.79, exceeding the forecast of $0.67. Despite a significant asset write-down in the gummy vitamins segment, the company experienced growth in international sales and specialty products.
Church & Dwight's stock price target was raised from $114.00 to $117.00 by TD (TSX:TD) Cowen, maintaining a Buy rating, following these positive results. TD Cowen highlighted the company's market share gains and suggested the potential for better-than-anticipated performance in the fourth quarter. In contrast, Jefferies maintained a Hold rating with a price target of $108.00, expressing a cautious stance regarding the U.S. consumer market.
Despite increased manufacturing costs and marketing expenses, Church & Dwight remains optimistic about its long-term growth and plans to invest in marketing to build momentum for 2025. These recent developments reflect the company's strategic efforts to solidify its market presence and navigate the complexities of the current market environment.
InvestingPro Insights
Church & Dwight Co. Inc. (NYSE:CHD) continues to demonstrate strong market performance, as evidenced by recent insider transactions and key financial metrics. According to InvestingPro data, the company boasts a substantial market capitalization of $27.11 billion, reflecting its significant presence in the consumer goods sector.
InvestingPro Tips highlight Church & Dwight's impressive dividend history, having raised its dividend for 20 consecutive years and maintained payments for 50 years. This consistent dividend growth, coupled with a current dividend yield of 1.03%, underscores the company's commitment to shareholder returns.
The stock's recent performance has been robust, with a one-month price total return of 9.78% and a year-to-date return of 18.06%. Trading at 97.28% of its 52-week high, CHD appears to be maintaining strong momentum in the market.
However, investors should note that the stock is trading at a high P/E ratio of 49.42, which may indicate a premium valuation. This is further supported by an InvestingPro Tip stating that CHD is trading at high earnings and EBITDA valuation multiples.
For those seeking a more comprehensive analysis, InvestingPro offers 13 additional tips on Church & Dwight, providing deeper insights into the company's financial health and market position.
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