Gamco Investors INC. ET AL trimmed its position in shares of Campbell Soup (NYSE:CPB) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 425,739 shares of the company’s stock after selling 44,200 shares during the period. Gamco Investors INC. ET AL’s holdings in Campbell Soup were worth $20,482,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in Campbell Soup by 80,239.5% during the third quarter. Bessemer Group Inc. now owns 3,445,763 shares of the company’s stock valued at $161,331,000 after acquiring an additional 3,441,474 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new position in Campbell Soup during the fourth quarter valued at $103,733,000. LSV Asset Management grew its stake in Campbell Soup by 215.7% during the fourth quarter. LSV Asset Management now owns 3,095,193 shares of the company’s stock valued at $148,909,000 after acquiring an additional 2,114,693 shares in the last quarter. APG Asset Management N.V. grew its stake in Campbell Soup by 50.7% during the third quarter. APG Asset Management N.V. now owns 3,545,569 shares of the company’s stock valued at $166,004,000 after acquiring an additional 1,192,900 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Campbell Soup by 16.0% during the third quarter. Bank of New York Mellon Corp now owns 6,493,192 shares of the company’s stock valued at $304,011,000 after acquiring an additional 897,314 shares in the last quarter. Hedge funds and other institutional investors own 47.02% of the company’s stock.
In related news, SVP Carlos Barroso sold 4,300 shares of Campbell Soup stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $48.86, for a total transaction of $210,098.00. Following the completion of the sale, the senior vice president now owns 29,119 shares in the company, valued at approximately $1,422,754.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Randall W. Larrimore sold 2,242 shares of Campbell Soup stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $48.69, for a total transaction of $109,162.98. The disclosure for this sale can be found here. Insiders have sold a total of 15,284 shares of company stock valued at $741,399 in the last quarter. 37.20% of the stock is currently owned by company insiders.
Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Tuesday, November 21st. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.05). Campbell Soup had a return on equity of 56.88% and a net margin of 11.08%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. Campbell Soup’s revenue for the quarter was down 1.9% on a year-over-year basis. analysts predict that Campbell Soup will post 2.95 earnings per share for the current year.
Campbell Soup announced that its Board of Directors has authorized a share repurchase plan on Monday, December 18th that authorizes the company to buyback shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Wednesday, January 10th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.40 dividend on an annualized basis and a yield of 3.13%. Campbell Soup’s payout ratio is 48.95%.
Several equities analysts recently weighed in on CPB shares. Royal Bank of Canada set a $56.00 target price on shares of Campbell Soup and gave the company a “hold” rating in a research note on Wednesday, October 25th. Credit Suisse Group set a $41.00 target price on shares of Campbell Soup and gave the company a “sell” rating in a research note on Friday, November 24th. Piper Jaffray Companies set a $50.00 target price on shares of Campbell Soup and gave the company a “hold” rating in a research note on Wednesday, October 11th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $50.00 target price on shares of Campbell Soup in a research note on Friday, December 15th. Finally, Citigroup raised shares of Campbell Soup from a “neutral” rating to a “buy” rating and raised their target price for the company from $45.51 to $57.00 in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.08.
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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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