Campbell Soup Company (CPB) Shares Sold by Independence Advisors LLC

Independence Advisors LLC cut its stake in shares of Campbell Soup Company (NYSE:CPB) by 29.5% during the fourth quarter, HoldingsChannel reports. The firm owned 30,511 shares of the company’s stock after selling 12,755 shares during the period. Campbell Soup makes up about 0.5% of Independence Advisors LLC’s portfolio, making the stock its 24th largest holding. Independence Advisors LLC’s holdings in Campbell Soup were worth $1,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Campbell Soup by 6.1% in the second 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. Pacer Advisors Inc. grew its position in Campbell Soup by 8.2% in the second quarter. Pacer Advisors Inc. now owns 4,573 shares of the company’s stock worth $238,000 after acquiring an additional 348 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Campbell Soup in the second quarter worth approximately $1,016,000. Commonwealth Bank of Australia grew its position in Campbell Soup by 31.8% in the second quarter. Commonwealth Bank of Australia now owns 31,916 shares of the company’s stock worth $1,663,000 after acquiring an additional 7,706 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Campbell Soup by 87.7% in the second quarter. Franklin Resources Inc. now owns 18,382 shares of the company’s stock worth $959,000 after acquiring an additional 8,587 shares in the last quarter. 46.04% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on CPB. Royal Bank of Canada reissued a “hold” rating and issued a $53.00 target price (down from $55.00) on shares of Campbell Soup in a research report on Wednesday, November 22nd. UBS Group decreased their target price on shares of Campbell Soup from $42.00 to $41.00 and set a “sell” rating for the company in a research report on Wednesday, November 22nd. Morgan Stanley decreased their target price on shares of Campbell Soup from $47.00 to $46.00 and set an “underweight” rating for the company in a research report on Friday, October 13th. Piper Jaffray Companies set a $50.00 target price on shares of Campbell Soup and gave the stock a “hold” rating in a research report on Wednesday, October 11th. Finally, Citigroup reissued a “neutral” rating and issued a $54.00 target price (up from $50.00) on shares of Campbell Soup in a research report on Wednesday, December 20th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $49.83.

In related news, insider Edward Carolan sold 6,500 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total transaction of $312,975.00. Following the completion of the sale, the insider now directly owns 41,506 shares of the company’s stock, valued at approximately $1,998,513.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carlos Barroso sold 4,300 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the transaction, the senior vice president now owns 29,119 shares of the company’s stock, valued at $1,422,754.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,284 shares of company stock valued at $741,399. 37.20% of the stock is owned by insiders.

Campbell Soup Company (NYSE CPB) traded down $0.46 during midday trading on Friday, hitting $45.30. 799,801 shares of the company traded hands, compared to its average volume of 2,630,000. The company has a current ratio of 0.77, a quick ratio of 0.39 and a debt-to-equity ratio of 1.34. The company has a market cap of $13,620.00, a P/E ratio of 15.84, a P/E/G ratio of 3.72 and a beta of 0.39. Campbell Soup Company has a fifty-two week low of $44.99 and a fifty-two week high of $64.23.

Campbell Soup (NYSE:CPB) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.05). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.17 billion. Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. Campbell Soup’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. sell-side analysts anticipate that Campbell Soup Company will post 2.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Wednesday, January 10th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Tuesday, January 9th. Campbell Soup’s dividend payout ratio is currently 48.95%.

Campbell Soup declared that its board has approved a stock buyback plan on Monday, December 18th that authorizes the company to buyback shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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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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Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

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