Ravichandra Krishnamurty Saligram, a director at Church & Dwight Co. Inc. (NYSE:CHD), has recently sold 10,000 shares of the company's common stock. The shares were sold at a price of $106.11 each, amounting to a total transaction value of approximately $1,061,100.
Following this transaction, Saligram holds 32,500 shares indirectly through the Ravichandra Saligram Family Trust. Additionally, he maintains ownership of 13,747.07 shares through the Ravichandra K Saligram Revocable Trust, as well as 820 and 750 shares held directly. The company has demonstrated strong shareholder returns, maintaining dividend payments for 50 consecutive years and raising them for the past 20 years.
This sale was reported in a Form 4 filing with the Securities and Exchange Commission, which tracks insider transactions within publicly traded companies. For comprehensive insider trading analysis and additional financial insights, including Church & Dwight's detailed Pro Research Report, visit InvestingPro.
In other recent news, Church & Dwight reported a 3.8% increase in sales for the third quarter, surpassing the expected 2.5% growth. The adjusted earnings per share (EPS) for the quarter were $0.79, exceeding the forecast of $0.67. Despite a $357 million asset write-down in the gummy vitamins segment, Church & Dwight experienced growth in international sales and specialty products. Analysts from TD Cowen and Jefferies have responded to these results, with TD Cowen raising the company's stock price target from $114.00 to $117.00 and maintaining a Buy rating, while Jefferies has maintained a Hold rating with a price target of $108.00.
In a recent assessment by Piper Sandler, Church & Dwight saw a 1.9% year-over-year increase in sales for its top six brands during a 4-week period, and a 3.0% year-over-year increase for Q4 to date. This aligns with Piper Sandler's projections of a 1.6% organic growth for the Consumer Domestic segment in Q4. However, the firm remains cautious due to potential disruptions highlighted by management.
These are recent developments and further updates will be provided as they occur.
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