Zacks Investment Research upgraded shares of Church & Dwight (NYSE:CHD) from a hold rating to a buy rating in a research report report published on Monday morning, Zacks.com reports. The firm currently has $90.00 target price on the stock.
According to Zacks, “Shares of Church & Dwight have outpaced the industry in the past year. The company has been gaining from rising consumer demand for its products amid the coronavirus pandemic. This also boosted the company’s third-quarter 2020 results, wherein the top and bottom lines rose year over year and beat the consensus mark. Results gained from robust household and personal care businesses on consumers’ increased preference for essential items. Further, e-commerce sales played a strong role, with more consumers buying online. The company also continued to witness organic sales growth. However, rising costs associated with the COVID-19 pandemic as well as high manufacturing costs and tariffs are concerns for the company. Such factors put pressure on gross margin in the third quarter. Management expects gross margin to contract in 2020.”
A number of other analysts have also commented on the stock. BidaskClub lowered shares of Church & Dwight from a hold rating to a sell rating in a research note on Thursday, December 31st. Morgan Stanley increased their price target on shares of Church & Dwight from $89.00 to $97.00 and gave the company an equal weight rating in a research report on Tuesday, October 13th. Wells Fargo & Company started coverage on shares of Church & Dwight in a research report on Monday, December 7th. They set an equal weight rating and a $94.00 price target for the company. Finally, Oppenheimer reiterated a buy rating and issued a $105.00 price objective on shares of Church & Dwight in a research note on Thursday, October 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $97.19.
Church & Dwight (NYSE:CHD) last posted its earnings results on Thursday, October 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.20 billion. Church & Dwight had a net margin of 16.44% and a return on equity of 24.49%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. As a group, equities research analysts anticipate that Church & Dwight will post 2.82 earnings per share for the current fiscal year.
In related news, CEO Matthew Farrell sold 25,000 shares of Church & Dwight stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $86.13, for a total value of $2,153,250.00. Following the completion of the sale, the chief executive officer now directly owns 136,640 shares in the company, valued at $11,768,803.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven P. Cugine sold 17,504 shares of Church & Dwight stock in a transaction dated Thursday, December 17th. The shares were sold at an average price of $86.67, for a total value of $1,517,071.68. Following the completion of the sale, the executive vice president now owns 6,958 shares of the company’s stock, valued at $603,049.86. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. World Asset Management Inc grew its position in shares of Church & Dwight by 2.3% in the third quarter. World Asset Management Inc now owns 5,159 shares of the company’s stock valued at $483,000 after purchasing an additional 114 shares during the period. Exchange Traded Concepts LLC increased its position in Church & Dwight by 2.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,323 shares of the company’s stock worth $405,000 after purchasing an additional 115 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Church & Dwight by 1.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 6,209 shares of the company’s stock worth $582,000 after acquiring an additional 117 shares during the period. Transcend Wealth Collective LLC grew its holdings in shares of Church & Dwight by 0.3% in the 3rd quarter. Transcend Wealth Collective LLC now owns 42,488 shares of the company’s stock worth $3,982,000 after acquiring an additional 119 shares during the period. Finally, Cornerstone Advisors Inc. lifted its stake in Church & Dwight by 16.1% in the 3rd quarter. Cornerstone Advisors Inc. now owns 865 shares of the company’s stock valued at $81,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 79.40% of the company’s stock.
About Church & Dwight
Church & Dwight Co, Inc develops, manufactures, and markets household, personal care, and specialty products in the United States and internationally. It operates in three segments: Consumer Domestic, Consumer International, and Specialty Products Division. The company offers cat litters, carpet deodorization, 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; battery-operated and manual 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 replacement showerheads under the WATERPIK brand; and hair removal products under the FLAWLESS brand.
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