Hexavest Inc. Has $35.30 Million Stake in Campbell Soup (CPB)

Hexavest Inc. grew its stake in shares of Campbell Soup (NYSE:CPB) by 15,248.8% in the 4th quarter, HoldingsChannel reports. The fund owned 733,675 shares of the company’s stock after acquiring an additional 728,895 shares during the period. Hexavest Inc.’s holdings in Campbell Soup were worth $35,297,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Personal Financial Services increased its holdings in shares of Campbell Soup by 180.9% during the third quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock valued at $125,000 after acquiring an additional 1,724 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Campbell Soup in the 3rd quarter worth about $175,000. Victory Capital Management Inc. increased its holdings in Campbell Soup by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $195,000 after buying an additional 213 shares in the last quarter. First Allied Advisory Services Inc. increased its holdings in Campbell Soup by 6.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 3,847 shares of the company’s stock worth $201,000 after buying an additional 227 shares in the last quarter. Finally, ETRADE Capital Management LLC bought a new stake in Campbell Soup in the 2nd quarter worth about $210,000. Hedge funds and other institutional investors own 46.04% of the company’s stock.

In other Campbell Soup news, Director Randall W. Larrimore sold 2,242 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $48.69, for a total transaction of $109,162.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward Carolan sold 6,500 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $48.15, for a total value of $312,975.00. Following the sale, the insider now owns 41,506 shares of the company’s stock, valued at $1,998,513.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,284 shares of company stock valued at $741,399. Corporate insiders own 37.20% of the company’s stock.

Shares of Campbell Soup (CPB) opened at $45.51 on Friday. The stock has a market capitalization of $13,752.77, a PE ratio of 15.56, a price-to-earnings-growth ratio of 3.60 and a beta of 0.39. Campbell Soup has a 52 week low of $44.99 and a 52 week high of $64.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.39 and a current ratio of 0.77.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ 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 net margin of 11.08% and a return on equity of 56.88%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. equities research analysts anticipate that Campbell Soup will post 2.95 earnings per share for the current year.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.08%. Campbell Soup’s dividend payout ratio is currently 48.95%.

Several research firms recently commented on CPB. Royal Bank of Canada reiterated a “hold” rating and issued a $53.00 price objective (down from $55.00) on shares of Campbell Soup in a report on Wednesday, November 22nd. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $50.00 price objective on shares of Campbell Soup in a report on Friday, December 15th. Credit Suisse Group set a $41.00 price objective on Campbell Soup and gave the stock a “sell” rating in a report on Friday, November 24th. Piper Jaffray Companies set a $50.00 price objective on Campbell Soup and gave the stock a “hold” rating in a report on Wednesday, October 11th. Finally, Morgan Stanley reduced their price objective on Campbell Soup from $47.00 to $46.00 and set an “underweight” rating for the company in a report on Friday, October 13th. Seven analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.83.

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

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