Church & Dwight Co. (CHD) Stock Declined in Q3 on Management Guidance

Renaissance Investment Management, an investment management company, released its “Midcap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.43% (net) compared to a -0.65% return for the Russell Midcap Growth Index. A focus on high-quality growth stocks at attractive valuations led the strategy to outperform the index in the quarter. The Consumer Discretionary and Energy sectors significantly contributed to the strategy’s performance while Health Care and Real Estate detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Renaissance Investment highlighted stocks like Church & Dwight Co., Inc. (NYSE:CHD) in its Q3 2022 investor letter. Headquartered in Ewing, New Jersey, Church & Dwight Co., Inc. (NYSE:CHD) is a household, personal care, and specialty products manufacturer. On December 29, 2022, Church & Dwight Co., Inc. (NYSE:CHD) stock closed at $81.58 per share. One-month return of Church & Dwight Co., Inc. (NYSE:CHD) was -0.80% and its shares lost 19.56% of their value over the last 52 weeks. Church & Dwight Co., Inc. (NYSE:CHD) has a market capitalization of $19.895 billion.

Renaissance Investment made the following comment about Church & Dwight Co., Inc. (NYSE:CHD) in its Q3 2022 investor letter:

“On the negative side, Church & Dwight Co., Inc. (NYSE:CHD) declined 22.7% after reporting first quarter operating results that were below expectations. The company also lowered guidance on macroeconomic concerns, with management citing softness across their product portfolio, especially for their discretionary categories, as retailers work on reducing inventory levels.”

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Church & Dwight Co., Inc. (NYSE:CHD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Church & Dwight Co., Inc. (NYSE:CHD) at the end of the third quarter, which was 32 in the previous quarter.

We discussed Church & Dwight Co., Inc. (NYSE:CHD) in another article and shared the list of stocks that members of Congress own. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.