Patrick de Maynadier, Executive Vice President, General Counsel & Secretary of Church & Dwight Co. Inc. (NYSE:CHD), recently sold shares worth approximately $5.06 million. According to an SEC filing, de Maynadier sold 45,120 shares of common stock on November 21 at a weighted average price of $112.19 per share. The sale was conducted following the exercise of stock options at a price of $77.33 per share, resulting in a transaction total of roughly $3.49 million. Following these transactions, de Maynadier holds 10,325.184 shares directly.
In other recent news, Church & Dwight Co. Inc. reported a significant 3.8% increase in sales for the third quarter of 2024, exceeding the anticipated 2.5% growth. This surge in sales was accompanied by a rise in the company's adjusted earnings per share (EPS) for the quarter, reaching $0.79, surpassing the projected $0.67. TD Cowen subsequently increased Church & Dwight's stock price target from $114.00 to $117.00, maintaining a Buy rating.
Simultaneously, Jefferies held steady on its assessment of Church & Dwight, maintaining a Hold rating with a price target of $108.00. Despite higher manufacturing costs and increased marketing expenses, Church & Dwight remains optimistic about its long-term growth, with plans to invest in marketing and SG&A to build momentum for 2025.
These recent developments underscore Church & Dwight's strategic outlook in navigating the complexities of the current market environment. The company's decision to uphold its annual guidance despite surpassing third-quarter expectations indicates a careful approach to the market's uncertainties. The company's strategic increase in marketing spend is aimed at reinforcing its brand strength amid these challenges.
The updated price target reflects the analyst's confidence in Church & Dwight's continued market performance, supported by the company's recent financial achievements and strategic initiatives. The stock's Buy rating remains unchanged, signaling a positive outlook on the company's value to investors. Despite a $357 million asset write-down in the gummy vitamins segment, Church & Dwight experienced growth in international sales and specialty products.
InvestingPro Insights
Adding context to Patrick de Maynadier's recent stock sale, Church & Dwight Co. Inc. (NYSE:CHD) has demonstrated strong financial performance and market positioning. According to InvestingPro data, the company boasts a market capitalization of $27.74 billion and has shown revenue growth of 4.8% over the last twelve months as of Q3 2024, reaching $6.05 billion.
InvestingPro Tips highlight that Church & Dwight has maintained dividend payments for an impressive 50 consecutive years, with a current dividend yield of 1.01%. This consistent dividend history underscores the company's financial stability and commitment to shareholder returns, which may be reassuring to investors in light of the insider sale.
Moreover, the stock is trading near its 52-week high, with a price-to-earnings ratio of 49.83. This valuation metric, combined with the InvestingPro Tip indicating that CHD is trading at a high earnings multiple, suggests that investors are placing a premium on the company's future growth prospects.
It's worth noting that InvestingPro offers 14 additional tips for Church & Dwight, providing a more comprehensive analysis for investors seeking deeper insights into the company's financial health and market position.
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