Church & Dwight (CHD) to Repurchase $500.00 million in Outstanding Stock
Church & Dwight (NYSE:CHD) declared that its Board of Directors has approved a stock repurchase plan, which authorizes the company to buyback $500.00 million in shares on Thursday, November 2nd, EventVestor reports. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
Several research analysts recently commented on CHD shares. Jefferies Group LLC reissued a “buy” rating and set a $63.00 price target on shares of Church & Dwight in a research report on Thursday, August 3rd. Zacks Investment Research raised Church & Dwight from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, July 7th. BMO Capital Markets set a $50.00 price objective on Church & Dwight and gave the company a “hold” rating in a research report on Monday, July 17th. KeyCorp reaffirmed a “hold” rating on shares of Church & Dwight in a research report on Friday, August 25th. Finally, BidaskClub raised Church & Dwight from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. Church & Dwight presently has a consensus rating of “Hold” and an average price target of $50.40.
Church & Dwight (NYSE:CHD) traded down $2.26 during trading hours on Friday, reaching $43.92. The company had a trading volume of 2,912,999 shares, compared to its average volume of 1,800,000. The firm has a market cap of $10.98 billion, a PE ratio of 24.42, a P/E/G ratio of 2.65 and a beta of 0.54. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.48 and a current ratio of 1.05. Church & Dwight has a 1-year low of $42.56 and a 1-year high of $54.18.
Church & Dwight (NYSE:CHD) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The business had revenue of $967.90 million during the quarter, compared to analysts’ expectations of $937.20 million. Church & Dwight had a return on equity of 24.82% and a net margin of 12.32%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. equities research analysts predict that Church & Dwight will post 1.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.76 annualized dividend and a yield of 1.73%. Church & Dwight’s payout ratio is currently 43.68%.
In related news, EVP Steven P. Cugine sold 177,940 shares of Church & Dwight 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 completion of the sale, the executive vice president now directly owns 46,348 shares of the company’s stock, valued at approximately $2,331,304.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert D. Leblanc sold 9,718 shares of Church & Dwight stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $49.84, for a total value of $484,345.12. Following the sale, the director now directly owns 56,497 shares of the company’s stock, valued at $2,815,810.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,858 shares of company stock valued at $9,996,631. 2.00% of the stock is currently owned by insiders.
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About Church & Dwight
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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