Mitsubishi UFJ Asset Management Co. Ltd. Acquires 51,636 Shares of Church & Dwight Co., Inc. (NYSE:CHD)

Key Points

• Mitsubishi UFJ Asset Management Co. increased its stake in Church & Dwight by 11.7% during the first quarter, holding 493,762 shares valued at approximately $54.4 million.
• Analysts have varied opinions on CHD, with Bank of America upgrading the stock to a "buy" rating and raising the price target to $125, while others like JPMorgan Chase & Co. set a lower price objective at $92.
• Church & Dwight declared a quarterly dividend of $0.295 per share, translating to an annual yield of 1.3%, with the ex-dividend date set for August 15th.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Church & Dwight Co., Inc. (NYSE:CHD - Free Report) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,762 shares of the company's stock after acquiring an additional 51,636 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Church & Dwight worth $54,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its holdings in Church & Dwight by 89.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 53,164 shares of the company's stock valued at $5,567,000 after purchasing an additional 25,080 shares during the period. Allianz Asset Management GmbH grew its position in shares of Church & Dwight by 451.2% in the 1st quarter. Allianz Asset Management GmbH now owns 81,065 shares of the company's stock valued at $8,924,000 after buying an additional 66,357 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Church & Dwight by 1,201.4% in the first quarter. Penserra Capital Management LLC now owns 8,342 shares of the company's stock valued at $918,000 after buying an additional 7,701 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Church & Dwight by 9.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,916 shares of the company's stock worth $4,137,000 after acquiring an additional 3,254 shares during the last quarter. Finally, GAM Holding AG acquired a new position in shares of Church & Dwight in the first quarter worth approximately $1,249,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer decreased their target price on shares of Church & Dwight from $120.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Truist Financial set a $110.00 price objective on Church & Dwight and gave the stock a "buy" rating in a research report on Friday, June 6th. Wall Street Zen raised Church & Dwight from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. TD Cowen cut Church & Dwight from a "buy" rating to a "hold" rating and set a $100.00 target price for the company. in a research note on Tuesday, May 6th. Finally, Rothschild & Co Redburn cut Church & Dwight from a "neutral" rating to a "sell" rating and set a $83.00 price target on the stock. in a report on Monday, July 14th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Church & Dwight presently has an average rating of "Hold" and a consensus target price of $103.94.

Insider Activity

In other news, Director Ravichandra Krishnamu Saligram sold 14,660 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $99.00, for a total transaction of $1,451,340.00. Following the completion of the transaction, the director directly owned 13,747 shares of the company's stock, valued at $1,360,953. This represents a 51.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard A. Dierker bought 7,950 shares of Church & Dwight stock in a transaction dated Tuesday, May 13th. The shares were bought at an average cost of $94.66 per share, with a total value of $752,547.00. Following the completion of the transaction, the chief executive officer directly owned 16,358 shares in the company, valued at approximately $1,548,448.28. This trade represents a 94.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 15,359 shares of company stock worth $1,429,361 and sold 35,915 shares worth $3,545,300. 1.20% of the stock is currently owned by insiders.

Church & Dwight Stock Up 0.9%

Church & Dwight stock traded up $0.79 during trading on Monday, hitting $91.71. 2,470,701 shares of the company were exchanged, compared to its average volume of 2,350,592. The company has a market capitalization of $22.34 billion, a P/E ratio of 26.66, a PEG ratio of 3.75 and a beta of 0.43. The business's 50 day moving average is $96.67 and its 200 day moving average is $101.19. Church & Dwight Co., Inc. has a 52 week low of $90.50 and a 52 week high of $116.46. The company has a current ratio of 1.84, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Church & Dwight (NYSE:CHD - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.09. Church & Dwight had a net margin of 8.66% and a return on equity of 19.27%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $0.93 EPS. The firm's quarterly revenue was down .3% compared to the same quarter last year. Analysts predict that Church & Dwight Co., Inc. will post 3.7 earnings per share for the current year.

Church & Dwight Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 15th. Church & Dwight's dividend payout ratio is currently 55.66%.

About Church & Dwight

Church & Dwight Co, Inc engages in the development, manufacture, and marketing of household, personal care, and specialty products. It operates through the following segments: Consumer Domestic, Consumer International, Specialty Products Division (SPD), and Corporate. The Consumer Domestic segment offers household products, such as laundry detergents, fabric softener sheets, cat litter, household cleaning products, and personal care products including antiperspirants, oral care products, depilatories, reproductive health products, oral analgesics, nasal saline moisturizers, and dietary supplements.