State Street Corp increased its holdings in shares of Campbell Soup Company (NYSE:CPB) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,750,268 shares of the company’s stock after acquiring an additional 82,280 shares during the period. State Street Corp owned about 2.89% of Campbell Soup worth $456,326,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CPB. BlackRock Inc. grew its position in Campbell Soup by 2,522.6% during the 1st quarter. BlackRock Inc. now owns 14,676,936 shares of the company’s stock worth $840,105,000 after acquiring an additional 14,117,312 shares during the last quarter. Renaissance Technologies LLC grew its position in Campbell Soup by 585.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,494,700 shares of the company’s stock worth $130,099,000 after acquiring an additional 2,130,700 shares during the last quarter. LSV Asset Management bought a new stake in Campbell Soup during the 2nd quarter worth approximately $35,597,000. Principal Financial Group Inc. grew its position in Campbell Soup by 211.4% during the 2nd quarter. Principal Financial Group Inc. now owns 943,109 shares of the company’s stock worth $49,184,000 after acquiring an additional 640,237 shares during the last quarter. Finally, Gotham Asset Management LLC grew its position in Campbell Soup by 922.3% during the 1st quarter. Gotham Asset Management LLC now owns 641,623 shares of the company’s stock worth $36,727,000 after acquiring an additional 578,860 shares during the last quarter. Institutional investors and hedge funds own 44.67% of the company’s stock.
In other Campbell Soup news, insider Luca Mignini acquired 4,300 shares of Campbell Soup stock in a transaction that occurred on Wednesday, September 27th. The shares were bought at an average price of $46.47 per share, with a total value of $199,821.00. Following the completion of the purchase, the insider now directly owns 88,178 shares in the company, valued at approximately $4,097,631.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles R. Perrin sold 2,304 shares of the business’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The disclosure for this sale can be found here. Insiders own 37.30% of the company’s stock.
A number of equities research analysts recently commented on the company. Piper Jaffray Companies set a $50.00 price target on Campbell Soup and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research lowered Campbell Soup from a “hold” rating to a “sell” rating in a research report on Monday, September 4th. Goldman Sachs Group, Inc. (The) decreased their price target on Campbell Soup from $49.00 to $45.00 and set a “hold” rating on the stock in a research report on Sunday, September 3rd. Royal Bank Of Canada lowered Campbell Soup from an “underperform” rating to a “market perform” rating in a research report on Sunday, September 3rd. Finally, UBS AG restated a “sell” rating and set a $46.00 price target (down from $50.00) on shares of Campbell Soup in a research report on Friday, September 1st. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $51.00.
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Campbell Soup Company (CPB) opened at 46.00 on Friday. Campbell Soup Company has a 12 month low of $45.00 and a 12 month high of $64.23. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 15.92 and a beta of 0.36. The firm has a 50-day moving average price of $47.40 and a 200-day moving average price of $53.30.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Thursday, August 31st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.69 billion. Campbell Soup had a return on equity of 59.84% and a net margin of 11.24%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.46 earnings per share. On average, equities analysts anticipate that Campbell Soup Company will post $3.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, October 13th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.40 annualized dividend and a dividend yield of 3.04%. Campbell Soup’s dividend payout ratio is 48.44%.
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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