California State Teachers Retirement System lowered its stake in Campbell Soup Company (NYSE:CPB) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 337,059 shares of the company’s stock after selling 33,115 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Campbell Soup worth $17,578,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Campbell Soup by 2,522.6% in the 1st quarter. BlackRock Inc. now owns 14,676,936 shares of the company’s stock valued at $840,105,000 after purchasing an additional 14,117,312 shares during the period. Vanguard Group Inc. lifted its stake in shares of Campbell Soup by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 13,103,256 shares of the company’s stock valued at $683,334,000 after purchasing an additional 160,180 shares during the period. State Street Corp lifted its stake in shares of Campbell Soup by 0.9% in the 2nd quarter. State Street Corp now owns 8,750,268 shares of the company’s stock valued at $456,326,000 after purchasing an additional 82,280 shares during the period. Schroder Investment Management Group lifted its stake in shares of Campbell Soup by 6.2% in the 2nd quarter. Schroder Investment Management Group now owns 3,097,618 shares of the company’s stock valued at $161,045,000 after purchasing an additional 180,429 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Campbell Soup by 585.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,494,700 shares of the company’s stock valued at $130,099,000 after purchasing an additional 2,130,700 shares during the period. 44.67% of the stock is currently owned by institutional investors.
In other news, Director Charles R. Perrin sold 2,304 shares of the company’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $46.46, for a total transaction of $107,043.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Luca Mignini acquired 4,300 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were bought at an average price of $46.47 per share, for a total transaction of $199,821.00. Following the acquisition, the insider now directly owns 88,178 shares of the company’s stock, valued at approximately $4,097,631.66. The disclosure for this purchase can be found here. 37.20% of the stock is currently owned by corporate insiders.
Campbell Soup Company (NYSE:CPB) traded down 0.15% during trading on Friday, reaching $47.45. The company’s stock had a trading volume of 764,733 shares. The company has a market cap of $14.26 billion, a P/E ratio of 16.42 and a beta of 0.36. Campbell Soup Company has a 12 month low of $45.00 and a 12 month high of $64.23. The stock’s 50-day moving average is $46.66 and its 200 day moving average is $52.56.
Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Thursday, August 31st. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Campbell Soup had a net margin of 11.24% and a return on equity of 59.84%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the company posted $0.46 EPS. Campbell Soup’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Campbell Soup Company will post $3.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.40 annualized dividend and a dividend yield of 2.95%. Campbell Soup’s dividend payout ratio is currently 48.44%.
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A number of research analysts have recently weighed in on the company. Royal Bank Of Canada set a $56.00 price target on Campbell Soup and gave the company a “hold” rating in a research note on Wednesday. Credit Suisse Group set a $47.00 price target on Campbell Soup and gave the company a “sell” rating in a research note on Sunday, July 23rd. Morgan Stanley cut their price target on Campbell Soup from $47.00 to $46.00 and set an “underweight” rating on the stock in a research note on Friday, October 13th. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 price objective (down previously from $56.00) on shares of Campbell Soup in a research report on Monday, September 11th. Finally, Barclays PLC restated a “sell” rating on shares of Campbell Soup in a research report on Tuesday, July 25th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Campbell Soup has an average rating of “Hold” and an average price target of $50.91.
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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