Campbell Soup Company (NYSE:CPB) was the recipient of a significant increase in short interest in October. As of October 13th, there was short interest totalling 20,505,894 shares, an increase of 21.5% from the September 29th total of 16,883,304 shares. Based on an average daily trading volume, of 1,776,145 shares, the days-to-cover ratio is presently 11.5 days. Approximately 11.9% of the shares of the stock are short sold.
In related news, Director Charles R. Perrin sold 2,304 shares of Campbell Soup stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $46.46, for a total value of $107,043.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Luca Mignini purchased 4,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was acquired at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the completion of the purchase, 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 insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Motco boosted its stake in shares of Campbell Soup by 301.9% during the 2nd quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after acquiring an additional 1,600 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Campbell Soup by 180.9% during the 3rd quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock worth $125,000 after acquiring an additional 1,724 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Campbell Soup during the 3rd quarter worth $175,000. Mercer Capital Advisers Inc. boosted its stake in shares of Campbell Soup by 13.6% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 3,374 shares of the company’s stock worth $176,000 after acquiring an additional 405 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Campbell Soup by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $195,000 after acquiring an additional 213 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Thursday, August 31st. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.69 billion. Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Friday, October 13th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of Infinity. The ex-dividend date was Thursday, October 12th. Campbell Soup’s dividend payout ratio is presently 48.44%.
A number of analysts recently weighed in on the company. Royal Bank Of Canada set a $56.00 price target on Campbell Soup and gave the company 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 on the stock in a research note on Friday, October 13th. Piper Jaffray Companies set a $50.00 price target on Campbell Soup and gave the company a “hold” rating in a research note on Wednesday, October 11th. Zacks Investment Research downgraded Campbell Soup from a “hold” rating to a “sell” rating in a research report on Monday, September 4th. Finally, Goldman Sachs Group, Inc. (The) decreased their target price 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. Seven 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. The stock currently has an average rating of “Hold” and a consensus target price of $50.91.
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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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