Chemung Canal Trust Co. reduced its position in Campbell Soup Co. (NYSE:CPB) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 8,836 shares of the company’s stock after selling 75 shares during the period. Chemung Canal Trust Co.’s holdings in Campbell Soup were worth $588,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Checchi Capital Advisers LLC increased its stake in shares of Campbell Soup by 9.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,798 shares of the company’s stock worth $120,000 after buying an additional 161 shares during the period. Mercer Capital Advisers Inc. increased its stake 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 worth $197,000 after buying an additional 53 shares during the period. UMB Bank N A MO acquired a new stake in shares of Campbell Soup during the second quarter worth about $202,000. Reynolds Capital Management LLC acquired a new stake in shares of Campbell Soup during the first quarter worth about $223,000. Finally, First Midwest Bank Trust Division increased its stake 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 worth $225,000 after buying an additional 16 shares during the period. Institutional investors own 44.17% of the company’s stock.
Campbell Soup Co. (NYSE:CPB) traded down 1.44% during mid-day trading on Monday, reaching $53.55. The company’s stock had a trading volume of 864,283 shares. The stock has a market cap of $16.49 billion, a P/E ratio of 29.59 and a beta of 0.38. Campbell Soup Co. has a one year low of $47.77 and a one year high of $67.89. The firm’s 50 day moving average is $55.79 and its 200-day moving average is $61.14.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Thursday, September 1st. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by $0.04. The company earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Campbell Soup had a return on equity of 59.50% and a net margin of 7.07%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. Equities analysts expect 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. Stockholders of record on Wednesday, October 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. This is a boost from Campbell Soup’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, October 7th. Campbell Soup’s dividend payout ratio is currently 77.78%.
A number of brokerages recently issued reports on CPB. Credit Suisse Group AG reiterated a “sell” rating and issued a $60.00 price objective on shares of Campbell Soup in a research report on Thursday, July 28th. TheStreet downgraded Campbell Soup from a “buy” rating to a “hold” rating in a research report on Thursday, September 1st. Goldman Sachs Group Inc. restated a “neutral” rating and set a $68.00 price target (up previously from $62.00) on shares of Campbell Soup in a research report on Friday, July 15th. Credit Agricole SA lowered their price target on Campbell Soup from $64.00 to $59.00 and set a “market perform” rating on the stock in a research report on Monday, September 12th. Finally, Zacks Investment Research upgraded Campbell Soup from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.83.
In other news, VP William J. O’shea sold 13,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $57.74, for a total transaction of $750,620.00. Following the sale, the vice president now directly owns 28,952 shares in the company, valued at approximately $1,671,688.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carlos Barroso sold 1,600 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $57.68, for a total transaction of $92,288.00. Following the sale, the insider now owns 46,888 shares in the company, valued at $2,704,499.84. The disclosure for this sale can be found here. Insiders own 37.30% of the company’s stock.
About Campbell Soup
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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