Mizuho Asset Management Co. Ltd. raised its stake in shares of Campbell Soup Co. (NYSE:CPB) by 69.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,388 shares of the company’s stock after buying an additional 981 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Campbell Soup were worth $159,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in CPB. Vicus Capital raised its position in shares of Campbell Soup by 0.3% in the second quarter. Vicus Capital now owns 3,695 shares of the company’s stock valued at $246,000 after buying an additional 12 shares in the last quarter. First Midwest Bank Trust Division raised its position in shares of Campbell Soup by 0.5% in the second quarter. First Midwest Bank Trust Division now owns 3,381 shares of the company’s stock valued at $225,000 after buying an additional 16 shares in the last quarter. Mercer Capital Advisers Inc. raised its position in shares of Campbell Soup by 1.8% in the second quarter. Mercer Capital Advisers Inc. now owns 2,958 shares of the company’s stock valued at $197,000 after buying an additional 53 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Campbell Soup by 2.3% in the second quarter. Rehmann Capital Advisory Group now owns 3,627 shares of the company’s stock valued at $241,000 after buying an additional 82 shares in the last quarter. Finally, World Asset Management Inc raised its position in shares of Campbell Soup by 0.6% in the second quarter. World Asset Management Inc now owns 17,717 shares of the company’s stock valued at $1,179,000 after buying an additional 99 shares in the last quarter. 43.99% of the stock is currently owned by institutional investors.
Campbell Soup Co. (NYSE:CPB) opened at 55.0101 on Friday. The company has a 50-day moving average price of $58.81 and a 200-day moving average price of $62.17. Campbell Soup Co. has a 12-month low of $47.77 and a 12-month high of $67.89. The firm has a market cap of $16.94 billion, a PE ratio of 30.3923 and a beta of 0.31.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Campbell Soup had a net margin of 7.07% and a return on equity of 59.50%. The business earned $1.69 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts predict that Campbell Soup Co. will post $3.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, October 12th will be paid a $0.35 dividend. The ex-dividend date is Friday, October 7th. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. This represents a $1.40 dividend on an annualized basis and a yield of 2.53%. Campbell Soup’s dividend payout ratio (DPR) is currently 69.44%.
Several brokerages recently issued reports on CPB. Wells Fargo & Co. set a $59.50 target price on Campbell Soup and gave the company a “hold” rating in a research report on Sunday, September 4th. TheStreet lowered Campbell Soup from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Zacks Investment Research downgraded Campbell Soup from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $68.00 price target (up previously from $62.00) on shares of Campbell Soup in a research note on Friday, July 15th. Finally, Credit Suisse Group AG reiterated a “sell” rating and set a $60.00 price target on shares of Campbell Soup in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company. Campbell Soup presently has an average rating of “Hold” and a consensus target price of $59.83.
In other news, VP William J. O’shea sold 13,000 shares of Campbell Soup stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $57.74, for a total transaction of $750,620.00. Following the sale, the vice president now owns 28,952 shares in the company, valued at $1,671,688.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff Dunn sold 8,459 shares of Campbell Soup stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.24, for a total value of $475,734.16. Following the sale, the insider now owns 112,775 shares in the company, valued at approximately $6,342,466. The disclosure for this sale can be found here. 37.70% of the stock is owned by company insiders.
About Campbell Soup
Campbell Soup Company manufactures and markets food products. The Company’s segments include U.S. Simple Meals; Global Baking and Snacking; International Simple Meals and Beverages; U.S. Beverages, and Bolthouse and Foodservice. Its U.S. Simple Meals segment includes various products, such as Campbell’s condensed and ready-to-serve soups; Prego pasta sauces, and Pace Mexican sauces.
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