Stone Ridge Asset Management LLC purchased a new stake in Campbell Soup (NYSE:CPB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,063 shares of the company’s stock, valued at approximately $1,831,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. raised its holdings in Campbell Soup by 103.3% in the fourth quarter. Baird Financial Group Inc. now owns 38,359 shares of the company’s stock valued at $1,845,000 after acquiring an additional 19,488 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in Campbell Soup by 3.2% during the third quarter. Manning & Napier Advisors LLC now owns 1,201,707 shares of the company’s stock valued at $56,262,000 after purchasing an additional 37,577 shares during the last quarter. AXA increased its stake in Campbell Soup by 2,043.4% during the third quarter. AXA now owns 620,342 shares of the company’s stock valued at $29,044,000 after purchasing an additional 591,400 shares during the last quarter. Adams Asset Advisors LLC bought a new stake in Campbell Soup during the fourth quarter valued at $6,503,000. Finally, Jennison Associates LLC bought a new stake in Campbell Soup during the third quarter valued at $1,849,000. 50.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Randall W. Larrimore sold 2,242 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total value of $109,162.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luca Mignini bought 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $45.53 per share, with a total value of $200,332.00. Following the transaction, the insider now directly owns 87,814 shares in the company, valued at $3,998,171.42. The disclosure for this purchase can be found here. Insiders sold a total of 15,284 shares of company stock valued at $741,399 in the last quarter. 37.20% of the stock is currently owned by insiders.
Campbell Soup (NYSE:CPB) last announced its earnings results on Friday, February 16th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.19. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.16 billion. Campbell Soup had a net margin of 13.41% and a return on equity of 54.10%. Campbell Soup’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. equities analysts forecast that Campbell Soup will post 3.1 earnings per share for the current fiscal year.
Campbell Soup announced that its Board of Directors has authorized a share buyback plan on Monday, December 18th that allows the company to repurchase shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
Several analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $48.00 target price (down previously from $50.00) on shares of Campbell Soup in a research note on Tuesday, February 20th. Wolfe Research assumed coverage on shares of Campbell Soup in a research note on Friday, January 26th. They set a “market perform” rating for the company. Zacks Investment Research upgraded shares of Campbell Soup from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley lowered their price target on shares of Campbell Soup from $49.00 to $46.00 and set an “underweight” rating for the company in a research report on Tuesday, February 20th. Finally, Piper Jaffray Companies lowered shares of Campbell Soup from a “neutral” rating to an “underweight” rating and set a $59.00 price target for the company. in a research report on Wednesday, February 28th. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $50.27.
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Campbell Soup Profile
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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