PNC Financial Services Group Inc. Decreases Position in Church & Dwight Company, Inc. (CHD)
PNC Financial Services Group Inc. reduced its stake in Church & Dwight Company, Inc. (NYSE:CHD) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489,481 shares of the company’s stock after selling 819 shares during the period. PNC Financial Services Group Inc. owned 0.60% of Church & Dwight worth $77,273,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Tredje AP fonden bought a new position in Church & Dwight in the second quarter worth about $140,000. Westside Investment Management Inc. bought a new position in Church & Dwight in the first quarter worth about $149,000. Parallel Advisors LLC raised its stake in Church & Dwight by 53.5% in the first quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $161,000 after buying an additional 1,150 shares in the last quarter. Van ECK Associates Corp raised its stake in Church & Dwight by 8.2% in the first quarter. Van ECK Associates Corp now owns 3,803 shares of the company’s stock worth $190,000 after buying an additional 288 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in Church & Dwight in the second quarter worth about $203,000. 79.65% of the stock is owned by institutional investors.
In related news, Director Robert D. Leblanc sold 9,718 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $49.84, for a total transaction of $484,345.12. Following the completion of the transaction, the director now owns 56,497 shares in the company, valued at approximately $2,815,810.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven P. Cugine sold 177,940 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $50.30, for a total transaction of $8,950,382.00. Following the transaction, the executive vice president now owns 46,348 shares of the company’s stock, valued at approximately $2,331,304.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,858 shares of company stock valued at $9,996,631. Company insiders own 2.00% of the company’s stock.
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Church & Dwight Company, Inc. (NYSE:CHD) traded up 1.55% during midday trading on Friday, hitting $50.43. 2,644,107 shares of the stock were exchanged. Church & Dwight Company, Inc. has a 12 month low of $42.56 and a 12 month high of $54.18. The company has a market cap of $12.58 billion, a PE ratio of 29.82 and a beta of 0.60. The firm’s 50 day moving average price is $50.29 and its 200 day moving average price is $50.92.
Church & Dwight (NYSE:CHD) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Church & Dwight had a net margin of 12.39% and a return on equity of 24.21%. The business had revenue of $898.00 million during the quarter, compared to analyst estimates of $903.87 million. During the same quarter in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Church & Dwight Company, Inc. will post $1.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. Church & Dwight’s dividend payout ratio is currently 44.97%.
A number of equities research analysts have weighed in on CHD shares. Zacks Investment Research upgraded shares of Church & Dwight from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, July 7th. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price objective on shares of Church & Dwight in a report on Tuesday, June 13th. BMO Capital Markets set a $50.00 price objective on shares of Church & Dwight and gave the stock a “hold” rating in a report on Monday, July 17th. UBS AG restated a “sell” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Church & Dwight in a report on Tuesday, July 18th. Finally, KeyCorp restated a “hold” rating on shares of Church & Dwight in a report on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $51.24.
Church & Dwight Company Profile
Church & Dwight Co, Inc develops, manufactures and markets a range of household, personal care and specialty products. The Company’s segments include Consumer Domestic, Consumer International and Specialty Products Division (SPD). The Company also sells specialty products to industrial customers and distributors.
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