Tower Research Capital LLC TRC raised its position in Campbell Soup (NYSE:CPB) by 290.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,021 shares of the company’s stock after acquiring an additional 6,711 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Campbell Soup were worth $423,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPB. Price T Rowe Associates Inc. MD grew its position in Campbell Soup by 34.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,079,326 shares of the company’s stock valued at $203,529,000 after acquiring an additional 1,306,435 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Campbell Soup in the 2nd quarter valued at about $39,377,000. Vanguard Group Inc. grew its position in Campbell Soup by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,494,448 shares of the company’s stock valued at $821,213,000 after acquiring an additional 893,192 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Campbell Soup in the 2nd quarter valued at about $31,379,000. Finally, Renaissance Technologies LLC grew its position in Campbell Soup by 96.9% in the 2nd quarter. Renaissance Technologies LLC now owns 720,800 shares of the company’s stock valued at $28,882,000 after acquiring an additional 354,700 shares in the last quarter. 51.76% of the stock is owned by institutional investors.
Shares of Campbell Soup stock opened at $47.28 on Monday. The business has a 50-day simple moving average of $46.89 and a 200-day simple moving average of $42.83. The company has a market cap of $14.18 billion, a PE ratio of 20.56, a P/E/G ratio of 3.15 and a beta of 0.43. Campbell Soup has a one year low of $32.03 and a one year high of $48.38. The company has a debt-to-equity ratio of 6.39, a quick ratio of 0.33 and a current ratio of 0.58.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Thursday, October 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.96%. The ex-dividend date was Wednesday, October 9th. Campbell Soup’s payout ratio is 60.87%.
In related news, SVP Adam G. Ciongoli sold 16,096 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $47.16, for a total transaction of $759,087.36. Following the completion of the sale, the senior vice president now owns 70,984 shares in the company, valued at $3,347,605.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 36.48% of the stock is owned by insiders.
A number of equities analysts have recently commented on the company. Piper Jaffray Companies raised Campbell Soup from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $40.00 to $45.00 in a research report on Tuesday, September 3rd. Bank of America boosted their price objective on Campbell Soup from $36.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada assumed coverage on Campbell Soup in a research report on Thursday, October 17th. They set an “outperform” rating and a $55.00 price objective for the company. Citigroup boosted their price objective on Campbell Soup from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, ValuEngine downgraded Campbell Soup from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.50.
Campbell Soup Company 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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