Banque Pictet & Cie SA purchased a new stake in shares of Campbell Soup Company (NYSE:CPB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,000 shares of the company’s stock, valued at approximately $1,405,000.
Several other hedge funds have also added to or reduced their stakes in the company. Motco raised its stake in Campbell Soup by 301.9% during the second quarter. Motco now owns 2,130 shares of the company’s stock worth $111,000 after buying an additional 1,600 shares during the last quarter. First Personal Financial Services raised its stake in Campbell Soup by 180.9% during the third quarter. First Personal Financial Services now owns 2,677 shares of the company’s stock worth $125,000 after buying an additional 1,724 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Campbell Soup during the third quarter worth $175,000. Mercer Capital Advisers Inc. raised its stake in Campbell Soup by 13.6% during the second quarter. Mercer Capital Advisers Inc. now owns 3,374 shares of the company’s stock worth $176,000 after buying an additional 405 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Campbell Soup by 6.1% during the second quarter. Victory Capital Management Inc. now owns 3,733 shares of the company’s stock worth $195,000 after buying an additional 213 shares during the last quarter. 46.33% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Luca Mignini purchased 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were acquired at an average cost of $46.47 per share, for a total transaction of $199,821.00. Following the completion of the acquisition, the insider now owns 88,178 shares in the company, valued at $4,097,631.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles R. Perrin sold 2,304 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $46.46, for a total transaction of $107,043.84. The disclosure for this sale can be found here. 37.20% of the stock is owned by company insiders.
A number of 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 stock a “hold” rating in a research note on Wednesday, October 25th. Goldman Sachs Group decreased their price target on shares of Campbell Soup from $49.00 to $45.00 and set a “hold” rating for the company in a research note on Sunday, September 3rd. UBS decreased their price target on shares of Campbell Soup from $46.00 to $42.00 and set a “sell” rating for the company in a research note on Thursday, November 9th. Credit Suisse Group set a $41.00 price target on shares of Campbell Soup and gave the company a “sell” rating in a research note on Friday, November 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $47.00 price target (down from $52.00) on shares of Campbell Soup in a research note on Friday, September 1st. Seven research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.91.
Shares of Campbell Soup Company (NYSE:CPB) traded up $1.10 during midday trading on Monday, hitting $50.32. 3,456,720 shares of the stock were exchanged, compared to its average volume of 2,005,990. The firm has a market capitalization of $15,120.00, a PE ratio of 16.74, a P/E/G ratio of 3.74 and a beta of 0.40. Campbell Soup Company 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 current ratio of 0.77 and a quick ratio of 0.42.
Campbell Soup (NYSE:CPB) last issued its quarterly earnings data on Tuesday, November 21st. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.05). The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.17 billion. Campbell Soup had a net margin of 11.08% and a return on equity of 56.88%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 earnings per share. research analysts forecast that Campbell Soup Company will post 2.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, January 9th. Campbell Soup’s dividend payout ratio is currently 48.95%.
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Campbell Soup Company Profile
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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