State Treasurer State of Michigan lowered its holdings in Campbell Soup Company (NYSE:CPB) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,859 shares of the company’s stock after selling 4,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Campbell Soup were worth $2,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Campbell Soup by 1.2% in the second quarter. Vanguard Group Inc. now owns 13,103,256 shares of the company’s stock worth $683,334,000 after purchasing an additional 160,180 shares during the last quarter. State Street Corp raised its stake in shares of Campbell Soup by 0.9% in the second quarter. State Street Corp now owns 8,750,268 shares of the company’s stock worth $456,326,000 after purchasing an additional 82,280 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Campbell Soup by 6.2% in the second quarter. Schroder Investment Management Group now owns 3,097,618 shares of the company’s stock worth $161,045,000 after purchasing an additional 180,429 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Campbell Soup by 585.4% in the second quarter. Renaissance Technologies LLC now owns 2,494,700 shares of the company’s stock worth $130,099,000 after purchasing an additional 2,130,700 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Campbell Soup by 2.3% in the second quarter. APG Asset Management N.V. now owns 2,352,669 shares of the company’s stock worth $122,692,000 after purchasing an additional 52,600 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.
Several research firms have recently weighed in on CPB. Royal Bank Of Canada set a $56.00 price target on Campbell Soup and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley decreased their price target on Campbell Soup from $47.00 to $46.00 and set an “underweight” rating for the company in a research note on Friday, October 13th. Piper Jaffray Companies set a $50.00 price target on Campbell Soup and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Zacks Investment Research cut Campbell Soup from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Finally, Goldman Sachs Group, Inc. (The) cut their price objective on Campbell Soup from $49.00 to $45.00 and set a “hold” rating for the company in a report on Sunday, September 3rd. Seven investment 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’s stock. Campbell Soup presently has an average rating of “Hold” and a consensus target price of $50.91.
In other news, Director Charles R. Perrin sold 2,304 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Luca Mignini bought 4,300 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were acquired at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the completion of the transaction, the insider now directly owns 88,178 shares in the company, valued at $4,097,631.66. The disclosure for this purchase can be found here. 37.20% of the stock is owned by company insiders.
Shares of Campbell Soup Company (NYSE CPB) opened at 47.37 on Wednesday. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 16.39 and a beta of 0.36. The firm’s 50-day moving average price is $46.63 and its 200 day moving average price is $52.29. Campbell Soup Company has a 12-month low of $44.99 and a 12-month high of $64.23.
Campbell Soup (NYSE:CPB) last released its quarterly earnings data on Thursday, August 31st. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that Campbell Soup Company will post $3.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Friday, October 13th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, October 12th. Campbell Soup’s dividend payout ratio (DPR) is presently 48.44%.
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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