Eaton Vance Management Buys 172,716 Shares of Campbell Soup (CPB)

Eaton Vance Management lifted its stake in Campbell Soup (NYSE:CPB) by 17.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,178,659 shares of the company’s stock after purchasing an additional 172,716 shares during the period. Eaton Vance Management’s holdings in Campbell Soup were worth $43,174,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CPB. Third Point LLC lifted its holdings in Campbell Soup by 224.3% during the third quarter. Third Point LLC now owns 18,000,000 shares of the company’s stock worth $659,340,000 after acquiring an additional 12,450,000 shares in the last quarter. Morgan Stanley lifted its holdings in Campbell Soup by 1,223.0% during the second quarter. Morgan Stanley now owns 5,721,091 shares of the company’s stock worth $231,933,000 after acquiring an additional 5,288,651 shares in the last quarter. Brandywine Managers LLC lifted its holdings in Campbell Soup by 51.2% during the second quarter. Brandywine Managers LLC now owns 5,609,014 shares of the company’s stock worth $227,389,000 after acquiring an additional 1,900,000 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Campbell Soup by 267.7% during the second quarter. Glenmede Trust Co. NA now owns 1,190,827 shares of the company’s stock worth $48,277,000 after acquiring an additional 867,002 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Campbell Soup by 130.1% during the second quarter. Van ECK Associates Corp now owns 973,057 shares of the company’s stock worth $39,448,000 after acquiring an additional 550,110 shares in the last quarter. Hedge funds and other institutional investors own 55.65% of the company’s stock.

In other news, insider Luca Mignini purchased 5,494 shares of the company’s stock in a transaction on Tuesday, October 2nd. The shares were purchased at an average price of $36.41 per share, with a total value of $200,036.54. Following the purchase, the insider now directly owns 112,990 shares of the company’s stock, valued at approximately $4,113,965.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 37.20% of the company’s stock.

Several research analysts have weighed in on the company. Bank of America set a $31.00 target price on Campbell Soup and gave the stock a “sell” rating in a report on Tuesday, November 27th. Credit Suisse Group upgraded Campbell Soup to a “hold” rating and set a $36.00 target price on the stock in a report on Tuesday, November 27th. Wells Fargo & Co set a $42.00 target price on Campbell Soup and gave the stock a “hold” rating in a report on Monday, November 26th. Deutsche Bank reiterated a “hold” rating on shares of Campbell Soup in a report on Tuesday, November 27th. Finally, Piper Jaffray Companies set a $37.00 target price on Campbell Soup and gave the stock a “sell” rating in a report on Monday, November 26th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Campbell Soup currently has an average rating of “Hold” and an average price target of $40.33.

CPB opened at $39.20 on Friday. Campbell Soup has a 1 year low of $32.63 and a 1 year high of $51.07. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.69 and a beta of 0.13. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.31 and a current ratio of 0.69.

Campbell Soup (NYSE:CPB) last released its quarterly earnings results on Tuesday, November 20th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. Campbell Soup had a return on equity of 53.81% and a net margin of 1.95%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, analysts expect that Campbell Soup will post 2.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Shareholders of record on Wednesday, January 9th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Tuesday, January 8th. Campbell Soup’s dividend payout ratio is 48.78%.

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Campbell Soup Profile

Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.

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

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