Vanguard Group Inc. raised its position in shares of Campbell Soup Co. (NYSE:CPB) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,360,297 shares of the company’s stock after buying an additional 225,113 shares during the period. Vanguard Group Inc. owned 4.00% of Campbell Soup worth $822,331,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Campbell Soup by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,835,032 shares of the company’s stock worth $116,867,000 after buying an additional 97,930 shares during the period. AMP Capital Investors Ltd raised its position in shares of Campbell Soup by 55.5% in the first quarter. AMP Capital Investors Ltd now owns 141,450 shares of the company’s stock worth $9,076,000 after buying an additional 50,500 shares during the period. Boston Advisors LLC raised its position in shares of Campbell Soup by 4,278.1% in the second quarter. Boston Advisors LLC now owns 212,340 shares of the company’s stock worth $14,127,000 after buying an additional 207,490 shares during the period. National Pension Service raised its position in shares of Campbell Soup by 4.7% in the first quarter. National Pension Service now owns 133,348 shares of the company’s stock worth $8,506,000 after buying an additional 5,990 shares during the period. Finally, State Treasurer State of Michigan raised its position in shares of Campbell Soup by 0.5% in the second quarter. State Treasurer State of Michigan now owns 62,247 shares of the company’s stock worth $4,141,000 after buying an additional 300 shares during the period. 43.99% of the stock is currently owned by institutional investors.
Shares of Campbell Soup Co. (NYSE:CPB) traded up 0.321% during midday trading on Tuesday, reaching $54.755. The company’s stock had a trading volume of 257,300 shares. The company has a market cap of $16.86 billion, a price-to-earnings ratio of 30.251 and a beta of 0.31. The stock has a 50-day moving average of $58.44 and a 200 day moving average of $62.05. Campbell Soup Co. has a 12 month low of $47.77 and a 12 month high of $67.89.
Campbell Soup (NYSE:CPB) last posted its earnings results on Thursday, September 1st. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.43 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, analysts predict that Campbell Soup Co. will post $3.04 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $1.40 dividend on an annualized basis and a yield of 2.57%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, October 7th. Campbell Soup’s payout ratio is presently 69.44%.
Several research analysts recently weighed in on the company. Credit Agricole SA decreased their target price on Campbell Soup from $64.00 to $59.00 and set a “market perform” rating for the company in a research note on Monday, September 12th. Deutsche Bank AG decreased their target price on Campbell Soup from $63.00 to $61.00 and set a “hold” rating for the company in a research note on Friday, August 26th. Royal Bank Of Canada decreased their target price on Campbell Soup from $62.00 to $58.00 and set a “sector perform” rating for the company in a research note on Friday, September 2nd. Citigroup Inc. decreased their target price on Campbell Soup from $67.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, September 2nd. Finally, Argus cut Campbell Soup from a “buy” rating to a “hold” rating and raised their target price for the company from $47.77 to $55.38 in a research note on Monday, September 19th. 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. The company presently has a consensus rating of “Hold” and an average price target of $59.83.
In other Campbell Soup news, insider Jeff Dunn sold 8,459 shares of the business’s 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 completion of the transaction, the insider now directly owns 112,775 shares of the company’s stock, valued at $6,342,466. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William J. O’shea sold 13,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $57.74, for a total value of $750,620.00. Following the completion of the transaction, the vice president now directly owns 28,952 shares of the company’s stock, valued at $1,671,688.48. The disclosure for this sale can be found here. 37.70% of the stock is owned by company insiders.
Campbell Soup Company Profile
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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