Church & Dwight Co., Inc. (NYSE:CHD) director Ravichandra Krishnamurty has recently sold a significant number of shares in the company. According to the latest SEC filings, Saligram disposed of 20,000 shares of common stock on June 4, 2024, at a weighted average price of $107.67, totaling over $2.15 million.
The transactions occurred in multiple parts, with prices ranging from $107.60 to $107.775 per share. Following these sales, Saligram continues to hold 13,793.07 shares indirectly through the Ravichandra K Saligram Revocable Trust, as well as 1,570 shares directly as restricted stock units (RSUs) that are subject to vesting. Additionally, the Ravichandra Saligram Family Trust holds 42,500 shares indirectly.
Investors often monitor insider transactions as they can provide insights into the executive's confidence in the company's future performance. While the reasons behind Saligram's decision to sell a portion of his holdings are not disclosed in the filing, the disclosed transactions are a matter of public record for shareholders and potential investors to consider.
Church & Dwight, known for its household and personal care products, remains a closely watched stock on the New York Stock Exchange. The company's performance and insider trading activity are often indicators of its financial health and future prospects.
The transaction was signed off by La Fleur Browne, Attorney-in-Fact for Ravichandra Saligram, on June 6, 2024. As is customary, the filing notes that further details about the specific prices of shares sold can be provided upon request.
In other recent news, Church & Dwight Co. Inc. has been the subject of several analyst reviews and has reported strong first-quarter results. BMO Capital Markets resumed coverage on Church & Dwight, bestowing an Outperform rating and setting a price target of $230.00, citing the significant boost in scale following the Enerplus (NYSE:ERF) acquisition. CFRA raised its price target for Church & Dwight to $114, noting a first-quarter adjusted EPS of $0.96, a 12.9% increase year-over-year, and revenue of $1.5 billion, marking a 5% increase from the previous year.
Evercore ISI increased its price target from $107.00 to $110.00 while maintaining a neutral rating, following Church & Dwight's guidance anticipating moderation in second-quarter sales. Goldman Sachs also adjusted its outlook, increasing the price target to $116 from $110 and sustaining a Buy rating, following first-quarter results that exceeded expectations.
During its earnings call, Church & Dwight reported a 5.1% increase in sales and a 5.2% rise in organic sales for the first quarter, while also announcing the strategic acquisition of Graphico, expanding its footprint in the Japanese market. The company raised its full-year gross margin and EPS growth forecasts in light of these developments. These are recent developments that investors should be aware of when considering Church & Dwight.
InvestingPro Insights
As Church & Dwight Co., Inc. (NYSE:CHD) navigates through the market, its financial stability and growth prospects remain a focal point for investors. According to InvestingPro data, Church & Dwight boasts a robust market capitalization of $26.39 billion. The company's Price-to-Earnings (P/E) ratio stands at 33.72, reflecting investor sentiment about its earnings potential. Additionally, the revenue growth over the last twelve months, as of Q1 2024, is reported at 7.86%, indicating a healthy increase in the company's sales.
Investors looking for a steady and reliable stock may find Church & Dwight appealing, especially considering its track record of raising dividends. An InvestingPro Tip highlights that the company has raised its dividend for 19 consecutive years, showcasing a commitment to returning value to shareholders. Moreover, the company has a perfect Piotroski Score of 9, suggesting strong financial health. This could be particularly reassuring for investors in light of the recent insider selling activity.
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