Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Campbell Soup (NYSE:CPB) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,122 shares of the company’s stock after purchasing an additional 2,544 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Campbell Soup were worth $1,726,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CPB. Third Point LLC purchased a new position in shares of Campbell Soup during the second quarter valued at about $224,997,000. Morgan Stanley lifted its holdings in shares of Campbell Soup by 1,223.0% in the 2nd quarter. Morgan Stanley now owns 5,721,091 shares of the company’s stock valued at $231,933,000 after acquiring an additional 5,288,651 shares during the last quarter. Brandywine Managers LLC lifted its holdings in shares of Campbell Soup by 51.2% in the 2nd quarter. Brandywine Managers LLC now owns 5,609,014 shares of the company’s stock valued at $227,389,000 after acquiring an additional 1,900,000 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Campbell Soup by 267.7% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,190,827 shares of the company’s stock valued at $48,277,000 after acquiring an additional 867,002 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Campbell Soup in the 2nd quarter valued at about $33,950,000. Hedge funds and other institutional investors own 55.65% of the company’s stock.
CPB has been the subject of several analyst reports. Deutsche Bank decreased their price objective on shares of Campbell Soup from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, August 31st. ValuEngine raised shares of Campbell Soup from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Wells Fargo & Co set a $42.00 price objective on shares of Campbell Soup and gave the stock a “hold” rating in a research note on Monday, August 20th. Credit Suisse Group set a $36.00 price objective on shares of Campbell Soup and gave the stock a “sell” rating in a research note on Friday, August 31st. Finally, Royal Bank of Canada raised their price objective on shares of Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 23rd. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $40.33.
Campbell Soup stock opened at $39.63 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 5.65. Campbell Soup has a fifty-two week low of $32.63 and a fifty-two week high of $51.07. The company has a market cap of $11.88 billion, a PE ratio of 13.81, a P/E/G ratio of 2.71 and a beta of 0.13.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Tuesday, November 20th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. Campbell Soup had a net margin of 1.95% and a return on equity of 53.81%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 24.7% on a year-over-year basis. On average, sell-side analysts predict that Campbell Soup will post 2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Stockholders of record on Wednesday, January 9th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.53%. Campbell Soup’s dividend payout ratio is presently 48.78%.
In related news, insider Luca Mignini purchased 5,494 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The stock was purchased at an average price of $36.41 per share, with a total value of $200,036.54. Following the completion of the purchase, the insider now owns 112,990 shares of the company’s stock, valued at approximately $4,113,965.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 37.20% of the company’s stock.
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Campbell Soup Company Profile
Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.
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