BlackRock Inc. cut its stake in shares of Campbell Soup (NYSE:CPB) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,376,194 shares of the company’s stock after selling 208,538 shares during the quarter. BlackRock Inc. owned 4.78% of Campbell Soup worth $526,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CPB. Russell Investments Group Ltd. lifted its holdings in Campbell Soup by 1.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 80,449 shares of the company’s stock worth $3,267,000 after buying an additional 1,254 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Campbell Soup in the 2nd quarter worth approximately $328,000. LFA Lugano Financial Advisors SA purchased a new stake in Campbell Soup in the 2nd quarter worth approximately $175,000. Standard Life Aberdeen plc lifted its holdings in Campbell Soup by 0.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 308,175 shares of the company’s stock worth $12,498,000 after buying an additional 2,697 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Campbell Soup by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 619,214 shares of the company’s stock worth $25,103,000 after buying an additional 7,583 shares during the period. Institutional investors own 53.18% of the company’s stock.
Shares of CPB opened at $37.77 on Friday. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 2.65 and a beta of 0.18. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.31 and a current ratio of 0.69. Campbell Soup has a fifty-two week low of $32.63 and a fifty-two week high of $50.66.
Campbell Soup (NYSE:CPB) last posted its earnings results on Tuesday, November 20th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company posted $0.92 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, analysts expect that Campbell Soup will post 2.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 28th. Shareholders of record on Wednesday, January 9th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, January 8th. Campbell Soup’s dividend payout ratio (DPR) is 48.78%.
In other news, insider Luca Mignini purchased 5,494 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was acquired at an average price of $36.41 per share, for a total transaction of $200,036.54. Following the acquisition, the insider now directly owns 112,990 shares of the company’s stock, valued at $4,113,965.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 37.20% of the company’s stock.
CPB has been the subject of several research analyst reports. JPMorgan Chase & Co. cut Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price objective for the company. in a report on Friday, August 10th. Piper Jaffray Companies set a $35.00 target price on Campbell Soup and gave the stock a “sell” rating in a research report on Tuesday, August 14th. Wells Fargo & Co set a $42.00 price objective on Campbell Soup and gave the company a “hold” rating in a research report on Monday, August 20th. UBS Group set a $30.00 target price on Campbell Soup and gave the stock a “sell” rating in a report on Thursday, August 23rd. Finally, Royal Bank of Canada lifted their target price on Campbell Soup to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, August 23rd. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Campbell Soup has a consensus rating of “Hold” and a consensus price target of $40.33.
About Campbell Soup
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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