Everence Capital Management Inc. purchased a new stake in shares of Campbell Soup Company (NYSE:CPB) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,500 shares of the company’s stock, valued at approximately $211,000.
A number of other large investors have also recently modified their holdings of CPB. OppenheimerFunds Inc. grew its holdings in Campbell Soup by 9.3% during the 1st quarter. OppenheimerFunds Inc. now owns 17,578 shares of the company’s stock valued at $1,006,000 after purchasing an additional 1,489 shares during the last quarter. Teachers Advisors LLC grew its holdings in Campbell Soup by 51.0% during the 1st quarter. Teachers Advisors LLC now owns 437,838 shares of the company’s stock valued at $25,062,000 after purchasing an additional 147,875 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in Campbell Soup by 14.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 7,660 shares of the company’s stock valued at $438,000 after purchasing an additional 950 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Campbell Soup by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 875,006 shares of the company’s stock valued at $50,084,000 after purchasing an additional 90,818 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Campbell Soup during the 1st quarter valued at about $20,835,000. Institutional investors own 45.14% of the company’s stock.
CPB has been the topic of several analyst reports. Piper Jaffray Companies reiterated a “neutral” rating and set a $50.00 price target (down from $56.00) on shares of Campbell Soup in a report on Monday, September 11th. Zacks Investment Research downgraded shares of Campbell Soup from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Credit Suisse Group set a $50.00 price target on shares of Campbell Soup and gave the company a “sell” rating in a report on Friday, July 7th. Morgan Stanley cut their price target on shares of Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a report on Friday, October 13th. Finally, Royal Bank Of Canada downgraded shares of Campbell Soup from an “underperform” rating to a “market perform” rating in a report on Sunday, September 3rd. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Campbell Soup presently has an average rating of “Hold” and a consensus price target of $50.91.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings results on Thursday, August 31st. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. Campbell Soup’s revenue was down 1.4% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Monday, October 30th. Shareholders 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 is presently 48.44%.
In other Campbell Soup news, Director Charles R. Perrin sold 2,304 shares of Campbell Soup stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luca Mignini purchased 4,300 shares of the company’s stock in a transaction 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 transaction, the insider now owns 88,178 shares of the company’s stock, 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.
Campbell Soup Company 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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