Rick Spann, the Executive Vice President and Chief Supply Chain Officer at Church & Dwight Co. Inc. (NYSE:CHD), recently executed a significant stock transaction. On December 2, Spann sold 39,520 shares of common stock at a price of $112.00 per share, totaling approximately $4.4 million. This sale follows the exercise of stock options to acquire the same number of shares at a price of $53.75 per share, amounting to a total of $2,124,200. After these transactions, Spann holds 4,973 shares directly. Church & Dwight, known for its household and personal care products, is headquartered in Ewing, New Jersey.
In other recent news, Church & Dwight Co. Inc. reported a robust third quarter, with a 3.8% increase in sales, surpassing the expected 2.5% growth. The company's 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, Church & Dwight experienced growth in international sales and specialty products.
TD Cowen maintained a Buy rating on Church & Dwight's stock and increased the price target from $114.00 to $117.00, citing the company's recent financial performance. Meanwhile, Jefferies held steady on its assessment, maintaining a Hold rating with a price target of $108.00. Both firms noted Church & Dwight's cautious stance regarding the U.S. consumer market.
These recent developments underscore Church & Dwight's strategic outlook in navigating the complexities of the current market environment. The company plans to invest in marketing and SG&A to build momentum for 2025, despite higher manufacturing costs and increased marketing expenses. As the market looks ahead, Church & Dwight's product portfolio, which includes 40% value-tier items, is considered well-suited for a challenging economic environment.
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