Seascape Capital Management Liquidates $3.7 Million Church & Dwight (NYSE: CHD) Position: Should Investors Sell Too?
Key Points
Seascape sold 38,209 shares of Church & Dwight; estimated transaction value of $3.67 million based on the quarterly average price.
The trade represents a 1.05% change in Seascape’s 13F assets under management.
Seascape's post-trade position: zero shares; position value now $0.
The Church & Dwight stake was previously 1.16% of the fund’s AUM.
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Seascape Capital Management fully exited its position in Church & Dwight (NYSE:CHD), selling all 38,209 shares in a trade estimated at ~$3.67 million, according to an SEC filing for the period ended Q3 2025, submitted on October 20, 2025.
What happened
Seascape Capital Management reported the complete sale of its Church & Dwight position in a U.S. Securities and Exchange Commission (SEC) Form 13-F filing dated October 20, 2025.
The fund disposed of all 38,209 shares it held, with an estimated trade value of $3.67 million. The filing is available here.
What else to know
The fund liquidated its Church & Dwight stake, which previously accounted for 1.16% of its reportable assets; the post-trade holding now represents zero percent of AUM.
Top holdings after the filing:
- DoubleLine Opportunistic Core Bond ETF: $28.77 million (8.3% of AUM) as of September 30, 2025
- First Trust Core Investment Grade ETF: $28.26 million (8.1% of AUM) as of September 30, 2025
- iShares MSCI Emerging Markets Ex China ETF: $20.38 million (5.8% of AUM) as of September 30, 2025
- iShares U.S. Treasury Bond ETF: $11.16 million (3.2% of AUM) as of September 30, 2025
- Applovin: $11.13 million (3.2% of AUM) as of September 30, 2025
As of October 20, 2025, shares of Church & Dwight were priced at $88.08, down 15.2% over the past year, underperforming the S&P 500 by 30 percentage points over that time.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $6.07 billion |
| Net Income (TTM) | $525.20 million |
| Dividend Yield | 1.33% |
| Price (as of market close 2025-10-20) | $88.08 |
Company Snapshot
Church & Dwight:
- Offers a diverse portfolio of household, personal care, and specialty products under brands such as ARM & HAMMER, TROJAN, OXICLEAN, SPINBRUSH, FIRST RESPONSE, NAIR, and WATERPIK, among others.
- Generates revenue primarily through the sale of branded consumer goods, leveraging both domestic and international distribution networks across retail, e-commerce, and specialty channels.
- Targets a broad customer base, including mass merchandisers, supermarkets, drugstores, specialty retailers, and industrial clients in the U.S. and internationally.
Church & Dwight Co. is a leading consumer products company with a strong presence in household and personal care categories, supported by a portfolio of well-recognized brands.
Foolish take
Seascape Capital Management's sale of Church & Dwight is noteworthy as the firm is completely liquidating the stock. Previously, the stock equaled roughly 1.3% of Seascape's portfolio.
Church & Dwight's share price is roughly the same as it was in 2020 after it received a pandemic-aided boost, so Seascape might simply be moving on from an underperforming stock.
From a longer-term, Foolish perspective, there is a lot to like about Church & Dwight. The stock has delivered total returns four times higher than the S&P 500 since 2000.
That said, the company's high-growth days are far behind it, with sales only rising 6% annually over the last decade. Investors shouldn't expect the steady-Eddie stock to be a quick multibagger.
Making matters worse, management has only increased the stock's dividend payments by roughly one penny each year for the last seven or eight years. This leaves Church & Dwight kind of stuck in no-man's land as it's not really a growth stock, a dividend growth stock, a high-yield stock, or a deep value stock.
At 23 times free cash flow, Church & Dwight is cheaper than it has been over the last decade, but it would probably be best for investors looking for a safe haven to put their money into, rather than a stock with immense outperformance potential.
Glossary
13F: A quarterly report filed by institutional investment managers disclosing their equity holdings to the SEC.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Liquidated: The process of selling off an investment position entirely, converting it to cash.
Stake: The ownership interest or investment a fund or individual holds in a particular company.
Dividend Yield: The annual dividend payment expressed as a percentage of a stock's current price.
Distribution Networks: Systems and channels through which products are delivered from manufacturers to end customers.
Mass Merchandisers: Large retail stores that sell a wide range of products, often at lower prices, to the general public.
Specialty Channels: Distribution outlets focused on specific product categories or targeted customer segments.
TTM: The 12-month period ending with the most recent quarterly report.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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